- Steve Marcus/Reuters
- Intel is set to report fourth-quarter earnings after the bell on Thursday.
- Millennials are buying shares 10 times more often than they are selling them, according to the Stockpile trading app.
- Watch how the stock is moving in real time here.
Intel is set to report earnings after the bell on Thursday, and millennials are loading up on shares ahead of the report.
According to data from Stockpile, an app that allows trading of fractional stock shares, young investors on the app are buying Intel stock 10 times more often then they are selling. The company is currently the 46th most popular among millennials on the Stockpile app.
This is a surprisingly strong stance, given Wall Street’s lukewarm feelings toward the stock recently. About 56% of the analysts surveyed by Bloomberg are bullish on the stock, while the other 43% are neutral or bearish.
Wall Street is perhaps more hesitant because of the uncertainty around recent security flaws that affect Intel chips. The company has been working to fix a decade’s worth of security issues with its processors, dubbed Spectre and Meltdown. The recently disclosed security issues allow bad actors to exploit the way modern CPUs work to find sensitive information they wouldn’t normally have access to. All the major CPU makers are affected by the flaws, but Intel has been hit the hardest.
When news of the flaws initially broke, investors flocked to Intel’s rival, AMD, sending shares of the company up 16.29% this year. It’s a stark contrast to Intel’s shares which have slipped about 4%.
Ahead of the company’s fourth-quarter earnings report, set to be released after the bell on Thursday, Wall Street is expecting adjusted earnings of $0.87 per share on revenue of $16.347 billion, according to data from Bloomberg.
Investors will likely be watching for comments on how the Spectre and Meltdown patches are coming along, and for more clarity about the flaws’ impact on the company’s business. Some analysts think it will likely impact the first quarter of 2018, but only because major chip buyers will delay their purchases until more clarity is found.
- Markets Insider