23.04.2020 Intel   Daily Analysis

23.04.2020 Intel Daily Analysis

Intel today is trading at $60.30 it went up with 0.20 from 60.10 Intel is trading high today mainly because the company is scheduled to report its 2020 first-quarter results today April 23. This first-quarter performance is expected to have benefited from the solid momentum of its latest high-performance Xeon processors and the growing adoption of IoT applications. The soon to be reported quarter performance is expected to have gained strength from its data center business on account of growing adoption of cloud-based solutions amid the coronavirus crisis which induced work from home wave. However, the first quarter performance might be negatively affected due to coronavirus effects on the shipment of PCs. More so, because Intel has a lot of competition from AMD and Xilinx (XLNX), it made it a point to increase its investments on infrastructure, product development, and platform in a bid to maintain its competitive position.