Wedbush Analyst Says ‘Bit Surprised’ After Intel’s First-Quarter Guidance Falls Short By Over $1B

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Intel Corporation‘s (NASDAQ:INTC) first-quarter guidance for 2024 has failed to meet revenue expectations by more than $1 billion, catching analysts off guard. What Happened: Matt Bryson, Senior Vice President at Wedbush Securities, in conversation with Yahoo Finance Live on Friday, analyzed the results and said he is “a bit surprised” at the extent of the guidance shortfall. Bryson argued that Intel’s decision to overship and maintain an excess inventory in Q4 resulted in a backlog that the company is now trying to manage. This situation has led to the current guidance shortfall, he explained…

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