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Analysts Bullish on Intel’s AI Strategy
The post Analysts Bullish on Intel’s AI Strategy appeared on BitcoinEthereumNews.com. Intel Corporation stock has remained flat over the last year despite a surge of 59% in the semiconductor sector index due to robust demand for AI chips. The tech giant, however, is positioning itself to ride the burgeoning opportunities in artificial intelligence that could propel its shares higher in the coming years. Intel turning the corner Intel’s latest quarterly results failed to impress Wall Street, with the stock sharply selling off. For the first quarter of 2024, revenue realized was $12.7 billion, in line with expectations, and adjusted earnings per share of $0.18—consensus $0.13. Nevertheless, its Q2 guidance fell short of expectations. The performance was mixed, but Intel said things were looking up. Revenue and earnings increased during the first quarter over the previous year, and sales in 2024 are expected to see further improvements. For instance, the giant’s gross margin widened by 8.2 percentage points in a year as the PC business bounced back. Intel’s Client Computing Group, which accounted for 59% of the revenue in Q1, grew 31% year on year due to high demand for AI-enabled PCs. The company had already shipped more than 5 million of such devices since December 2023 and is on target to exceed its goal of 40 million. AI-fueled growth engines According to Canalys, the yearly shipment in this AI PC market will find a colossal growth opportunity and cross 205 million units by 2028. Meanwhile, Intel’s Data Center and AI (DCAI) segment returned to growth in Q1, with revenue increasing 5% annually to $3 billion. In an early move, the company has aligned itself with the fast-growing AI chip market using its Gaudi 3 processor. Intel expects Gaudi 3 will make $500 million in revenue in Q2 2024, and momentum will continue in 2025 as supply improves and operating costs drop.…
The post Analysts Bullish on Intel’s AI Strategy appeared on BitcoinEthereumNews.com.
Intel Corporation stock has remained flat over the last year despite a surge of 59% in the semiconductor sector index due to robust demand for AI chips. The tech giant, however, is positioning itself to ride the burgeoning opportunities in artificial intelligence that could propel its shares higher in the coming years. Intel turning the corner Intel’s latest quarterly results failed to impress Wall Street, with the stock sharply selling off. For the first quarter of 2024, revenue realized was $12.7 billion, in line with expectations, and adjusted earnings per share of $0.18—consensus $0.13. Nevertheless, its Q2 guidance fell short of expectations. The performance was mixed, but Intel said things were looking up. Revenue and earnings increased during the first quarter over the previous year, and sales in 2024 are expected to see further improvements. For instance, the giant’s gross margin widened by 8.2 percentage points in a year as the PC business bounced back. Intel’s Client Computing Group, which accounted for 59% of the revenue in Q1, grew 31% year on year due to high demand for AI-enabled PCs. The company had already shipped more than 5 million of such devices since December 2023 and is on target to exceed its goal of 40 million. AI-fueled growth engines According to Canalys, the yearly shipment in this AI PC market will find a colossal growth opportunity and cross 205 million units by 2028. Meanwhile, Intel’s Data Center and AI (DCAI) segment returned to growth in Q1, with revenue increasing 5% annually to $3 billion. In an early move, the company has aligned itself with the fast-growing AI chip market using its Gaudi 3 processor. Intel expects Gaudi 3 will make $500 million in revenue in Q2 2024, and momentum will continue in 2025 as supply improves and operating costs drop.…
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