Citi Anticipates Intel to Beat Q3 Guidance
<p>Citi maintained a Neutral rating and a price target of $29.50 per share on <a href='https://financialmodelingprep.com/financial-summary/INTC'>Intel (NASDAQ:INTC)</a> shares ahead of the Q2 earnings, which is scheduled to be reported on July 27. </p>
<p>The latest data shows that June notebook shipments exceeded expectations, with a 13% month-over-month increase. This outperformance was attributed to strong demand and new product launches.</p>
<p>The analysts pointed out that this marks the fifth month out of six that notebook shipments have surpassed expectations. As a result, Q2/23 notebook shipments rose by 16% quarter-over-quarter, exceeding the analyst's initial projection of 10% quarter-over-quarter growth. </p>
<p>The analysts anticipate 6% quarter-over-quarter growth in Q3/23 notebook shipments, aligning with seasonal trends due to the absence of clear indications of sustained demand. Considering the strength in notebook shipments, the analysts believe Intel is well-positioned to surpass the upper end of its Q2/23 guidance. However, the analysts maintain a Neutral rating on Intel due to secular challenges and remain below the consensus.</p>

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