Intel shares have been in a reverse loop lately but could offer an attractive buy opportunity for investors, according to Barron’s. Investors have seen the stock weakening lately, dropping 15% this year, compared to a 44% surge last year when its PC sales outperformed low estimates.
Many catalysts going forward
Barron’s noted that Wall Street was quick to slash estimates. Analysts surveyed by FactSet now expect Intel to earn $2.16 per share this year for a multiple of 14.1 times on revenue of $55.8 billion. Last week the consensus estimate forecast earnings of $2.38 per share on revenue of $58.2 billion.