Alphabet (GOOG) and Intel (INTC) are opposites. Both firms posted quarterly results but GOOG stock rose while INTC stock fell.
Alphabet posted Q1 GAAP earnings per share of $2.81. Revenue increased by 12.0% Y/Y to $90.23 billion. The 10% growth in the services unit and the cloud revenue growth of 28% allowed the firm to raise its dividend by 5%. Markets cannot ignore Alphabet’s strong results. This contrasts with Tesla’s (TSLA) poor negative growth, which rose despite its weak prospects.
Intel (INTC) will open down by around 5%, testing the $20.00 support price that the stock established in August 2024. The firm’s revenue growth was flat at $12.7 billion. Non-GAAP EPS was $0.13, beating analyst estimates of zero profits. Expect Intel stock to remain at multi-year lows for now. Traders may bet on the stock rallying. However, any bounce will prove short-lived.
Microchip (MCHP) gained 12.38% to close at $47.12 on Thursday. The rally in semiconductor (SOX) stocks like Texas Instruments (TXN) lifted MCHP stock.
Your Takeaway
The market’s weeklong bounce from bearish territory might continue. Strong performance from Meta Platforms (META), Alphabet, Nvidia (NVDA), and Broadcom (AVGO) should lift the Nasdaq (QQQ) index next week.
