Intel (NASDAQ:INTC) reported Q1 2021 results indicating that revenue declined 7% year-over-year to $18.35 billion. Earnings stood at $0.87 per share. Intel’s Q2 outlook was also weaker than expected, guiding for earnings of approximately $0.70 per share on $18.0 billion in revenue.
Intel is being impacted by weaker PC sales and Apple’s transition to its own chips for its Mac computers, although this is being partly offset by strong demand from large-scale data centers and enterprises.
Intel stock declined 7% in Friday’s trading.
|S&P 500 Return||0%||-13%||85%|
|Trefis Multi-Strategy Portfolio||0%||-17%||227%|
 Month-to-date and year-to-date as of 5/2/2022
 Cumulative total returns since the end of 2016