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What’s Going On With Intel Shares Nosediving Thursday

Intel Corporation (NASDAQ: INTC) shares are trading lower by 6.47% to $27.12 Thursday morning in possible reaction to strong quarterly earnings from NVIDIA Corporation (NASDAQ: NVDA), which could be indicating strong de
byHenry Khederian
May 25, 2023
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Intel Corporation (NASDAQ:INTC) shares are trading lower by 6.47% to $27.12 Thursday morning in possible reaction to strong quarterly earnings from NVIDIA Corporation (NASDAQ:NVDA), which could be indicating strong demand for AI GPUs and driving competition concerns.

What Happened With NVIDIA Earnings?

Santa Clara, California-based Nvidia’s first-quarter earnings came in at $1.09 per share, ahead of the consensus estimate of 92 cents per share.

First-quarter revenue came in at $7.19 billion, also exceeding the Street estimate of $6.52 billion.

In late February, Nvidia guided to revenue of $6.5 billion plus or minus 2%, which translates to a range of $6.37 billion to $6.63 billion…Read More

According to data from Benzinga Pro, INTC has a 52-week high of $44.93 and a 52-week low of $24.59.

 
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