Proactive Investors - Intel Corporation (NASDAQ:INTC) has the potential to deliver upside to the consensus third-quarter 2023 financial results when the semiconductor giant releases its numbers after Thursday's close, according to Wedbush analysts.
In an update to clients, they highlighted signs of generally better than expected consumer demand trends that should continue to boost personal computer (PC) builds, as well as a bit of a year-end bump in enterprise IT spending combined with strengthening AI builds as reasons for their optimism.
For analysts at Wedbush, however, the real question remains whether Intel executes on its forward roadmap for process transitions.
"We see this result as integral to the company restoring competitiveness in servers, maintaining its positioning in PCs, and starting a foundry business," they wrote.
For that reason, they remain uncertain and continue to look for evidence suggesting new products will successfully gain momentum.
Shares of Intel edged $0.07 lower to $32.76 ahead of its financial results on Thursday.