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
- "Happy" Labor Day | ZeroHedge
- The Market Doesn’t Know How Stupid You Are | iBankCoin.com
- Will Ukraine Retake the East From Separatists? | Financial Sense
- Where Do ISIS Fighters Come From? | ZeroHedge
- SKiLLeD LaBoR... | ZeroHedge
- Middle-East 'Frenemies' | ZeroHedge
- Consumer Sentiment Bounces Back for August | Financial Sense
The most relevant financial news and articles from the Internets
- All The Different Ways That 'iCloud' Naked Celebrity Photo Leak Might Have... | Business Insider
- Wozniacki sends Sharapova out of US Open, Federer... | Business Insider
- New CEO Of Troubled UK Supermarket Tells All 500,000... | Business Insider
- The 10 Most Important Things In The World Right Now | Business Insider
- Ayatollah Urges Iran To Boycott 'Immoral' High-Speed... | Business Insider
- Libyan Militiamen Take Over Part Of An Evacuated US Embassy... | Business Insider
- Apple Just Patched A Security Flaw In iCloud That Could've... | Business Insider