Intel To Beat Q2 Earnings: ETFs To Buy

Intel (INTC - Free Report) is set to release second-quarter 2020 results on Jul 23 after the market close. Being a market leader in e-commerce, it is worth taking a look at the company’s fundamentals ahead of its results.

Intel has gained 2.8% over the past three months, underperforming the industry’s average growth of 22.2%. It can see a strong run-up in its share price given that the world’s largest chipmaker has a higher chance of an earnings beat.

Inside Our Methodology

Intel has a Zacks Rank #2 (Buy) and an Earnings ESP of +3.13%. According to our surprise prediction methodology, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

The stock saw positive earnings estimate revision of a penny over the past 30 days for the to-be-reported quarter. Analysts increasing estimates right before earnings — with the most up-to-date information possible — is a good indicator for the stock. The Zacks Consensus Estimate represents a substantial year-over-year increase of 12.3%. Additionally, Intel’s earnings surprise history is impressive, with surprise beat of 17.37%, on average, for the last four quarters. The company is expected to report revenue growth of 12.35%. The stock has a top VGM Score of A and falls under a top-ranked Zacks industry (top 21%).

The Zacks Consensus Estimate for average target price is $64.54 with nearly 36% of the analysts giving a Strong Buy or a Buy rating ahead of the company’s earnings.

Intel Corporation Price, Consensus and EPS Surprise

Intel Corporation Price, Consensus and EPS Surprise

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What to Watch

Investors will closely monitor the data-center business, which is expected to continue to benefit from the pandemic due to rising demand for laptops and cloud-computing power to support remote working.

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Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any specific ...

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