Zacks Investment Ideas feature highlights: Intel and Nvidia

For Immediate ReleaseChicago, IL – October 14, 2024 – Today, Zacks Investment Ideas feature highlights Intel INTC and Nvidia NVDA.Are Intel Shares Worth Another Look?Intel shares have largely been disappointing in 2024, unable to fully join the semiconductor trade and down more than 50%. Quarterly results have added fuel to the fire sale, with the stock unable to find any meaningful traction post-earnings.Below is a chart illustrating the YTD performance of Intel shares relative to the S&P 500, with its quarterly releases illustrated by the circled arrows.Given the steep decline from highs, could it finally be time to go on the offensive and pick up some shares? Let's take a closer look.Intel Maintains Bearish OutlookCurrently, Intel carries a Zacks Rank #4 (Sell), indicating bearish earnings estimate revisions from analysts. Expectations for its current fiscal year have been notably negative, with the $0.27 Zacks Consensus EPS estimate down 85% over the last year.The negative revisions, caused by unfavorable quarterly results, bode poorly for near-term share performance.Still, it's worth noting that CEO Pat Gelsinger remains confident, buying 12.5k shares at a total transaction value of roughly $250k in early August following the latest quarterly print. He noted that second-half trends are more challenging than anticipated but still expects the company to restrengthen its position in the market.Cost-cutting measures have also been a huge focus for the company over recent periods after margin pressures, as we can see in the chart below. In fact, Intel announced a $10 billion cost-savings target earlier in August.Are Intel Shares a Buy?Investors should stay on the sidelines until positive earnings estimate revisions roll in, which would signal a meaningful change in sentiment. Earnings expectations for its upcoming release expected on October 24th have already been slashed, with the company now expected to post a loss of -$0.03 per share.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.It's worth noting that INTC shares have been red-hot over the last month, gaining nearly 20%. While the positive price action has been inspiring, the bulk of the move has likely been fueled by a short squeeze following rumors of buyouts.For those seeking semiconductor exposure, there are many more positive stories, a list that obviously includes beloved AI-favorite Nvidia. Nvidia currently sports a Zacks Rank #2 (Buy), with its earnings outlook shifting higher across the board following unbelievable quarterly results.And concerning the top line, Nvidia's sales are forecasted to more than double in its current fiscal year.Why Haven't You Looked at Zacks' Top Stocks?Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.Today you can access their live picks without cost or obligation.See Stocks Free >>Media ContactZacks Investment Research800-767-3771 ext. 9339support@zacks.comhttps://www.zacks.comPast performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.7% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Intel Corporation (INTC): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks