Intel set for big drop in quarterly revenue as chipmaker struggles to bounce back
Intel is expected to report its biggest quarterly revenue drop in five quarters on Thursday, potentially signaling more erosion of data center and personal computer market share for the once iconic American chipmaker.
Shareholders have turned their focus to CEO Pat Gelsinger's attempts to salvage the company's lost market lead as losses mount at its contract manufacturing business, while Intel fails to capitalize on the generative AI-driven chip boom, after a series of missteps including passing on an investment in OpenAI.
With Wall Street expecting Intel to report an 8% decline in revenue to $13.02 billion, according to data from LSEG compiled as of October 26, investors want Gelsinger to provide clarity on his plans to get the company's latest manufacturing technology up and running.
A disastrous quarterly report in August had raised some doubts over Gelsinger's strategy to revive the struggling chipmaker.
Rosenblatt Securities analyst Hans Mosesmann said Intel investors have two big questions: «Can it be fixed?» and «Who is it going to be fixed by?»
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