Intel Shares Hit New Low (INTC)
Yet another dismal day for stocks as Intel Corp. (NASDAQ:INTC) hit $17.60 a share, a new 52-week low for the company. Intel shares have fallen 25% since April and its hard to believe its now trading dirt cheap with a P/E Ratio of 10.8 and EPS of 1.67.
But where are the buyers, has Wall Street lost faith in the chip giant despite it reporting its best quarter ever with $2.9 billion in profit?
This month Intel Corp. (NASDAQ:INTC) just got even bigger, they will soon own McAfee, Inc. (NYSE:MFE). McAfee has some 6,100 employees, and saw $2 billion in 2009 revenue, making it the world’s largest security company. Intel is all about diversification these days, picking up McAfee for $7.68 billion is a genius move.
Mastery Sponsors - Become one Today
Intel Corp (NASDAQ:INTC) blew away analyst estimates last month when the chip giant reported EPS of 51 cents on sales of $10.8 billion, beating the Street by 9 cents. The guidance was even better, a Q3 forecast of $11.6 billion when the Street was expecting $10.92 billion.
But Wall Street doesn't believe the chip sales will keep coming, everyone is concerned with the global slowdown, and Intel Corp. can't do anything to change investor sentiment. Intel shares closed the day at $17.67, down -1.64% or 30 cents, but just how low can INTC go?
At some point value investors will step in and start buying or we'll continue to hit new 52-week lows on a daily basis, time will tell.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- I Challenged Tim Ferriss To Arm Wrestling And This Is What Happened Next… | Altucher Confidential
- Dollar Comes Back Bid, but Still Vulnerable to Corrective Pressures | Financial Sense
- Which Of These Would You Rather Have In Your Safe? | ZeroHedge
- Just How Overvalued Is The Market? Here Are 20 Metrics To Help You Decide | ZeroHedge
- Something's Wrong | ZeroHedge
- German Companies Pull Ads From Breitbart | ZeroHedge
- Obama Orders Intelligence Community To Conduct "Full Review" Of 2016 Election Cybersecurity | ZeroHedge
The most relevant financial news and articles from the Internets
- South Korean businesses are celebrating their president's impeachment with sales | Business Insider
- Everything you need to know about the Thai economy | Business Insider
- Bloomberg and Murdoch are urging Trump to reconsider mass... | Business Insider
- Here's an addict's take on Duterte's war on drugs | Business Insider
- I stayed in a tiny house, and it made me want to throw out everything I own | Business Insider
- These under-$50 gifts will work for everyone on your list | Business Insider
- Goldman Sachs shares are up 30% since Trump's victory (GS) | Business Insider