An Intel stock rally faded on Friday after investors looked past an upbeat forecast and focused on the many lingering challenges at the embattled chipmaker. Fourth-quarter sales will be roughly $13.3 billion, the company said Thursday, a higher level than expected. Though Wall Street’s average estimate was $13.4 billion, some analysts were still including revenue from a unit that Intel just spun off — money that wasn’t part of the company’s forecast. Intel also returned to profitability in the third quarter, which ended Sept. 27. The company posted its first quarterly net income since the end of 2023. Investors initially applauded the results, sending the stock up as much as 7.8% on Friday. But shares soon pared their gains as investors look for answers about the company’s turnaround. Bloomberg News US Semiconductor Reporter Ian King joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)
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Intel Rally Fades After Investors Seek More Evidence of Comeback
