Intel Corporation Earnings Preview: Cautious As PC Demand Weakens

Intel Corporation Earnings Preview: Cautious As PC Demand Weakens
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Intel is scheduled to release its next earnings report after closing bell on Tuesday. The chip maker already preannounced its results for the first quarter, so there should be few surprises in tomorrow’s report.

What to expect in Intel’s earnings report

In a report dated April 10, Deutsche Bank analyst Ross Seymore and his team said they expect the tone of tomorrow’s report to be “cautious” and the results to be in line with the preannouncement. They’re projecting revenue of $12.8 billion, a 13% quarter over quarter decline.  That’s in line with the revised guidance of $12.8 billion, +/- $300 million, which management provided on March 12.

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Weak demand for PCs and higher channel inventory burn pushed Intel’s total addressable market for desktops to a multi-year low, the analysts say. They expect revenue from the company’s PCG segment to fall 17% sequentially as a result of that weakness in desktops.

The Deutsche Bank team is also expecting seasonal weakness in DCG revenues, a 9% sequential decline,