Intel Corporation (NASDAQ:INTC) weak guidance for Q4 revenue and margins dismissed lingering hopes for a recovery in personal computer demand towards the finish of the year. Shares of the world’s biggest chipmaker plunged 2% after the news.
The Santa Clara, California based Intel, along with competitor Advanced Micro Devices, Inc (NYSE:AMD), had earlier warned of weak demand for personal computers, hit by a disturbed worldwide economy and the rising popularity of tablets like Apple Inc’s (NASDAQ:AAPL) iPad.
Intel forecasts gross margins of 57% or 58% during the fourth-quarter on a non-GAAP basis. On average, analysts anticipated gross margins of almost 62% for the present three months period.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. MIPS Technologies, Inc. (NASDAQ:MIPS) fell -2.26% to settle at $7.35, Atmel Corporation (NASDAQ:ATML) moved down -0.30% to end at $4.97 while STMicroelectronics N.V. (ADR) (NYSE:STM) jumped +3.73% to finish at $6.39 on Wednesday.
Intel Corporation (NASDAQ:INTC) last session’s volume of 99.06 million shares was surprisingly higher than its average volume of 49.40 million shares. The stock after opening at $21.27 hit high price of $21.98 and then closed at $21.79 by scoring -2.51%.
The liquidity measure in recent quarter results of the company was recorded 2.45 as current ratio and on the other side the debt to equity ratio was 0.15 and long-term debt to equity ratio remained at 0.15. The Company had total cash of $13.72 billion at hand and a book value per share as $9.73 in the most recent quarter.
The stock’s price volatility was 2.27 % for a week and 1.76% for a month as well as price volatility’s Average True Range for 14 days was 0.51 and its beta remained at 1.07.
INTC generated revenue of $54.53 billion in the previous twelve months and earned $12.39 billion. The Company showed a positive 22.73% in the net profit margin as well as in its operating margin which remained at 30.83%. Company’s annual sales growth for the past five years was 8.82%.
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