Boston, MA 10/18/2013 (wallstreetpr) – As expected from the technology giant, Intel Corporation (NASDAQ:INTC) announced a ‘modest’ performance for third quarter of the fiscal year. Per share earnings was $0.58 while overall revenue posted was $13.48 billion for the quarter ending.
For Intel this has been a great survival year, given the overall poor sales in Personal Computers both within US markets and globally as well. In the last quarter of 2012, Intel’s sales revenue was $13.477 billion.
Hidden-Value behind Intel’s strong financial performance
High speculation about poor PC sales in the future has not affected Intel share prices largely because of the quick shift in the products that Intel now offers. Traditionally, Intel produced processors for personal computers. Now, following the advancement in mobile technologies and higher penetration, Intel too has expanded its product portfolio to address hardware and component needs of networking, storage, server market segment and most importantly the post-mobile device segment.
The inherent latent or hidden value that Intel has attracts investors in value investment. This is attributed to Intel’s closing prices (as of Tuesday) being very close to the target price set by Thomson Reuters at $23.80. Intel’s shares opened at $23.39 and closed at $23.74 for the previous closing day.
Earnings to be affected by poor PC sales in next quarter
Intel’ primary revenue segments are in PC sales and in data center sales. Over the past year, the PC sales saw $8.4 billion revenue, while $2.9 billion were earned in datacenter sales. Currently, Intel shares are priced $23.39, end of Tuesday trading. These shares also posted 52-week low and high of $19.23 and $25.93 respectively.
Mobile network sales the future
Intel has in the past few quarters steadily increased its presence in a third new segment – advanced mobile devices, often called as ultra-mobile devices, storage, server marketer as well as networking. The company expects these segmental sales to drive the share prices and reach $28 to $30.