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Intel and AT&T report earnings on Thursday
Information is not investment advice
The earnings season is hitting up! Follow Intel and AT&T on April 22, big moves are awaited!
Intel’s overview
Intel has kept its number 1 place in the semiconductor industry even amid the ongoing global chip shortage. However, the competition is hot and NVIDIA is stepping on the toes. Last week, NVIDIA announced the launch of a new data-center processor which can replace Intel's one. It’s believed that NVIDIA is on the way to dominate the chip sector. Thus, Intel is at risk to lose its value.
Let’s look at the stock from a technical perspective. It has been moving inside the ascending channel since the beginning of this year. However, yesterday it dropped out of it. If it breaks the recent low of $62.00, the way down to the key psychological mark of $60.00 will be open. On the flip side, if earnings are great, it may push the price back inside the channel and then to the high of April 15 at $65.00.
AT&T’s overview
5G, Fiber, and HBO Max – are the three things that most impact AT&T these days. The company is expected to deliver strong year-over-year earnings due to the success of the HBO Max streaming platform. AT&T expects to attract 67 million to 70 million HBO Max subscribers by the end of 2021. Moreover, HBO Max has a higher-than-average price of $15 a month. As a result, it brings more revenue for the company, unlike its rivals.
Time to look at the chart! The stock has been moving inside the ascending channel since early February. Since it’s in a lower part of the channel, it has a higher potential to rise. If it breaks the psychological level of $30.00, the way up to the April high of $31.00 will be open. Support levels are the low of April 13 at $29.50 and the psychological mark of $29.00.
Forecasts
Intel is expected to deliver $1.14 earnings per share and revenue of $17.78 billion on midnight from April 22 to April 23 by MetaTrader time (GMT+3).
AT&T is expected to deliver $0.7769 earnings per share and a revenue of $42.7 billion at 15:30 on April 22 MT time (GMT+3).
- If one company’s data comes better than the forecast, the stock of this company will rise.
- If one company’s data comes worse than the forecast, the stock of this company will drop.
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