Intel Faces Bearish Double-Top as Earnings Loom
TL;DR Summary
Intel stock has fallen about 33% from its year-to-date high, slipping into a local bear market and forming a double-top pattern ahead of its second-quarter earnings. While AI-driven demand supports CPUs and recent results showed revenue around $13.6B with a gross margin near 39.4%, Benzinga forecast about $14.4B in revenue and Q3 guidance near $15.13B; technically, the double-top (top near $133.15 with a neckline near $98) suggests further downside could unfold toward the 50% retracement around $80 if the pattern resolves bearishly.
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