Chipmaker Intel (INTC) released first-quarter guidance falling below Wall Street expectations. The stock continues to slide in Friday’s pre-market trading despite reporting an all-around fourth-quarter 2023 earnings beat — posting revenue of $15.4 billion and adjusted earnings of $0.54 per share.
Citi Head of US Semiconductor Research Christopher Danely joins Yahoo Finance to discuss Intel’s outlook across its segments.
“If you look at the core business for Intel, their PC and server microprocessors, that business is fine. It’s just everything else… the auto business, the foundry business, that’s all falling off fairly rapidly in Q1,” Danely says. “That’s what’s causing the big guide down.”
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Editor’s note: This article was written by Luke Carberry Mogan.
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