Intel’s First Quarter Of 2023 PC Revenue Slated For 53% Annual Drop Says Analyst

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As Intel Corporation heads to its upcoming earnings report, financial firms are divided about the state of the company's personal computing segment. Intel is facing the worst of both worlds at the moment. Its efforts to expand production and regain process leadership from the Taiwan Semiconductor Manufacturing Company (TSMC) have come when its revenue drops due to contraction in the semiconductor industry. With the Santa Clara, California chip giant's earnings due later this week, some financial analysts believe that the worst might be over for Intel's client computing group, while others think that more speed bumps are left for this quarter as well.

Intel's fourth quarter of 2022 earnings report was a bloodbath as the firm's revenue dropped 28% annually and stood at $14 billion. At the same time, the firm's revenue for the full year also dropped by 16%, with the final figure sitting at $63 billion. As part of it earnings release, Intel was also quick to state that for this year's first quarter, the firm would report a loss per share, and heading into this week's earnings report seems like this will very well be the case.

A research report from Raymod James released as the week kicked off forecasts a 15 cent loss per share for the world's largest chipmaker. This is in line with Intel's estimates, which provided a similar figure in January. Raymond James believes that Q1 revenue will sit at $11 billion and the Q2 reading will be $11.7 billion - with the latter also expected to be management estimates provided at the earnings release. It adds that Intel's personal computing revenues are