Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Although Intel Corporation’s (NASDAQ: INTC) data center sales to cloud customers recorded healthy growth in Q3, the company’s data center sales to enterprises declined. The weak enterprise performance makes Intel “a show me story,” UBS’ Stephen Chin said in a report. He maintained a Buy rating on the company, while reducing the price target from $43 to $40.
Intel’s shares could come under pressure in the near term, since the guidance released for Q4 was lower than normal seasonality in both PC and data center sales, analyst Chin mentioned. He added that the Buy rating reflected the optimism of the company being able to reaccelerate its annual data chip sales to 10 percent y/y growth in Q4. These sales currently contribute 30 percent of Intel’s total sales.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Poor Enterprise Performance
Intel reported 32 percent y/y growth in data center sales to cloud customers for Q3, while recording a 3 percent decline in data center sales to enterprises. This decline came despite Intel indicating signs of stabilization in the previous quarter.
Chin estimated that data center sales to cloud customers had contributed 40 percent of Intel’s total sales, which was around the same size as sales to enterprise customers.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.