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Technology Stocks : Semi Equipment Analysis

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Dec 9 4:00 PM EST

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From: Julius Wong	10/16/2023 5:44:03 PM
	1 Recommendation Recommended By Return to Sender of 95541

Intel, AMD may benefit as September notebook sales 'well above' expectations: Citi Oct. 16, 2023 3:52 PM ET By: Chris Ciaccia, SA News Editor Justin Sullivan Intel (NASDAQ: INTC) and AMD (NASDAQ: AMD) are likely to benefit as investment firm Citi said on Monday that notebook sales for September were "well above expectations." Analyst Christopher Danely, who has a neutral rating on Intel, said that shipments were up 7% month-over-month, well above the consensus of a 2% decline, aided in part by strong seasonal demand and pull-in from the fourth quarter. "We would note this is the seventh out of the last nine months that notebook shipments have been above expectations," Danely wrote in an investor note. "We believe the strength in notebook shipments is further evidence that Intel achieves the high end of its [third-quarter guidance]." Intel previously said that it was trending above the mid-point of its third-quarter revenue guidance at $13.4B, aided in part by its data center segment. Intel ( INTC) shares rose 2% on Monday while AMD ( AMD) tacked on 1.3%.

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