新帅首考！英特尔(INTC.US)能否化解关税危机

Core Viewpoint - Intel is set to release its Q1 earnings report on April 24, marking the first report under new CEO Pat Gelsinger, amid expectations of flat earnings per share and a 3% decline in revenue year-over-year to $12.31 billion [1] Group 1: Earnings Expectations - Market anticipates Intel's Q1 earnings per share to remain flat, with revenue expected at $12.31 billion, a 3% decrease from the previous year [1] - Morgan Stanley suggests that while Intel may deliver a "decent" short-term performance, the focus will be on its long-term growth trajectory [1] - Analysts have downgraded Intel's earnings expectations 25 times and revenue expectations 23 times over the past three months [2] Group 2: Market and Production Challenges - Intel's domestic semiconductor production initiatives may significantly impact its revenue from China, which accounted for nearly 30% of total revenue in 2024 [1] - The company may face tariffs of 84% or higher on products deemed to originate from the U.S., potentially accelerating its market share decline in China [1] - In the past two years, Intel has exceeded market expectations for revenue and profit 75% of the time [2] Group 3: Strategic Changes and Competition - Intel plans to cut over 20% of its workforce to eliminate bureaucratic inefficiencies, marking the first major structural change under CEO Gelsinger [2] - The company has fallen behind in technological innovation and struggles to compete in the AI computing sector against Nvidia [2] - Despite challenges, Intel's stock has risen over 3% this year, contrasting with a more than 10% decline in the broader market index [3]