What to Expect From Intel’s Upcoming Q4 Results?
<p>Deutsche Bank analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/INTC'>Intel Corporation (NASDAQ:INTC)</a> ahead of the upcoming Q4/22 results, expected to be announced on Jan 26.</p>
<p>While the analysts expect the company’s Q4 results to come in relatively in line with its guidance, they believe persistent macro/sector-wide headwinds are likely to impact the company’s Q1/23 and fiscal 2023 outlooks. </p>
<p>The company’s management has publicly indicated that Q1/23 revenue will likely be “no better than seasonal”, and thus the analysts lowered their revenue estimate to a 7% quarter-over-quarter decline, compared to a 3% decline prior, and they expect a somewhat muted post inventory burn snapback to impact the company’s 2023 revenue outlook as well.</p>
<p>While these revenue dynamics appear well understood by investors, analysts believe the resulting gross margin implications are less appreciated. Specifically, the analysts expect a continuation of sub-optimal revenue levels, underutilization charges, start-up charges and rising depreciation to only be partially offset by COGS-related cost cuts ($1 billion) and CAPEX “offsets”.</p>

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