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<Research> JPM Raises Intel (INTC.US) TP to USD45, Maintains Underweight; 2Q Gross Margin Seen Under Pressure
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JPM said in a research report that Intel (INTC.US) delivered 1Q results and 2Q guidance that comprehensively beat expectations, reflecting the solid strength of its Data Center and AI (DCAI) business, improved yield of its 18A process, and a third consecutive increase in capital expenditure. However, due to product quality issues, gross margin pressure in 2HYY, structural increases in operating expenses, and the possibility that breakeven for its foundry business may be delayed to after 2027, the broker maintained its Underweight rating even as it raised the TP from USD35 to USD45. The broker noted that it expects gross margin to gradually recover in 2HYY, reaching above 41% by year-end, but challenges from cost inflation in 2HYY still need to be overcome. Even at a level above 41%, gross margin would remain below its historical peak. (ss/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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