Chips · Oct 30, after earnings
Intel: does the recovery justify the price?
Margins are recovering, and that supports the price.
Q3 beat Intel’s own guidance, but the Q4 outlook steps down. The case now leans on 2027.
- Gross margin, non-GAAP44.1% Q3 → 38.0% Q4 outlook
- Revenue$16.5B Q3 → $15.0–16.0B Q4 outlook
- EPS, non-GAAP$0.52 Q3 → $0.25 Q4 outlook
- Close$92.07 Oct 29 → $65.76 Oct 30
Valuation · Oct 30
The price moved first: down 28.6% in a day. I’m redoing my numbers on the 38.0% margin.