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- 1 Intel Corporation stock jumped more than 3% on May 30.
- 2 INTC Stock Earnings Per Share rose over 75% in Q1 2023.
Intel Corporation(NASDAQ: INTC) is a US-based multinational company and a leading semiconductor manufacturer in terms of revenue. On Tuesday, INTC’s Stock price jumped over 3.41% and finished at $29.99.
On Tuesday, INTC stock opened trading at $29.70 after hitting a high of $30.04. The lowest traded price was $29.00, and the stock closed trading at $29.99. The market opened on May 30 after three days of holiday with a surge in prices.
Earlier, on May 26, INTC stock opened trading at $27.44 after hitting a high of $29.09. It closed trading at $29.00. The stock price recorded an impressive hike of 5.84% in the same trading session.
As per TradingView, Intel stock descended 0.20% in the weekly trading session and slipped more than 6% in the monthly session. It is important to note that stock prices surged 19.82% in the present quarter.
Revenue and Earnings of Intel Corporation
In the last quarter of 2022, the technology giant reported 3.10% less revenue than the estimated figures. The company’s revenue in Q1 2023 bypassed the estimated figures and reported 6.37% more revenue.
Intel Corp. estimated $11.01 Billion as Q1 revenue, while the reported figure was $11.70 Billion. It is important to note that Earning per share has seen a significant growth of 75.63%.
Intel Corp generates the most revenue from Client Computing, followed by Data Center and AI, Network Edge, Mobileye, Intel Foundry Service, Accelerated Computer Systems, and Graphics.
More than 26% of Intel Corp’s revenue is gathered from China, followed by the United States, Singapore, and Taiwan. From the overall income, the company’s gross profit is 42%, and net income is 13%.
In two funding rounds, Intel raised $12.5 Million and received funding from Arthur Rock & Co, Max Palevsky, and Venrock. Other than fundraising, the company has invested in more than 50 companies.
In April, Intel announced it shut down further production of Blockscale ASICs, its Bitcoin mining chips launched in June 2022. Additionally, there was no indication of continuation after halting its first generation Blockscale 1000-series chips.
When asked, Intel said the decision to “end-of-life the Intel Blockscale 100 Series ASIC” came after the company’s increasing focus on its Integrated Device Manufacturing 2.0 (IDM 2.0). However, it clarified the current Blockscale customers would continuously receive the support in the future.
Intel has invested inVanguardSemiconductor, ZVISION,truyo, Lightbend, BlueStacks, North, ICHEC, Proprio Vision, IFDAQ, and Care Innovations.
Some other investments include CODE2040, HyTrust, BlackArrow, VMware, Sic Apart, and others. The list of acquisitions is quite lengthy, but some of the leading purchases include Codeplay Software, Siru Innovations, Ananki, Granulate, Linutronix, Tower Semiconductors, Screenovate, and RemoteMyApp.
Technical levels:
Major support: $29.10 and $27.84
Major resistance: $33.17 and $34.43
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
