Human, All Too Human: Intel's WORST results

INTC plunges in after-hours ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Intel posted the worst quarterly earnings in its history. So the stock was up big both during the trading day and in after-hours. It was up by 2.79% during the day and just shy of 5% in after-hours trading yesterday. The reason is simple. It is all about expectations. Revenue was down by an astonishing 36%. Yet even that was higher than expected. The average loss per share was only $0.04 - a lot less severe than the $0.15 that was expected. Corporate leaders were optimistic. "We delivered solid first-quarter results, representing steady progress with our transformation," said Intel CEO Pat Gelsinger. "We hit key execution milestones in our data center roadmap and demonstrated the health of the process technology underpinning it." Now of course the company also said it was "cautious on the macroeconomic outlook." And this is something we are getting used to hearing. Despite one company after another coming out ahead when it comes to earnings, everyone seems to still be expecting a recession. But the stock market is fundamentally a social enterprise. Expectations, psychology, and even emotions can outweigh objective performance in the short-term. In the end, the numbers have it... But never forget that people's trades are shaped by their expectations. As with chess, you are competing against another person in the end... not against the game itself. Don't ever forget the human element - or think yourself exempt. Keep Moving, Corey Snyder Publisher, Rogue Investing WORD ON THE STREET Mixed Results For AMZN, Office Building Crisis, SNAP Down BIG - AMZN Beats Expectations, Falls Anyway - Net sales and net income were up, but that wasn't enough to boost AMZN stock in after-hours trading. It rose initially but then fell as investors grappled with problems in the cloud service. Amazon has also begun layoffs in the HR and cloud divisions. - SNAP Collapse - Snapchat missed revenue estimates as it grappled with a changing online advertising environment. SNAP reported a net loss of $329 million. SNAP was down 18.29% in after-hours trading - Former Deutsche Bank Analyst Predicts Office Space Collapse - Tony Cobb, former Deutsche Bank co-head of American commercial real estate, argued commercial real estate could lead to a larger economic crisis. Now head of lender and debt servicer 3650 REIT, he argued there may not be enough people who actually want office space in major cities anymore. "Every single crisis in my lifetime has been headlined by real estate," he said. - Long-Term Mortgage Rate Increases - The rate on the 30-year fixed-rate mortgage is up to 6.43%. It was just 5.1% a year ago, and this is the second straight week it has increased. HOT SPOTS: What's Going on in Geopolitics - So Much For BRICS - India's defense minister blasted China for border violations. Indian Defense Minister Rajnath Singh "reiterated that violation of existing agreements has eroded the entire basis of bilateral relations and disengagement at the border will logically be followed with de-escalation." - Russian Missile Strikes Kill Nine – At least nine people were killed in a wave of Russian missile strikes. Kyiv was hit for the first time in 51 days. - Saudi Arabia Considers Price Cut - Saudi Aramco may reduce the official selling price of Arab Light crude to Asia. This would be a bold move after the OPEC+ production cut. The objective would be to increase supplies to China and India. CUTTING EDGE: What[']( )s Happening In Tech - Dropbox Lays Off 500 - Dropbox is laying off about 16% of its staff. CEO Drew Houston said the "AI era of computing has finally arrived" and is presenting new challenges to the company. - Coinbase Steps Up Criticism Of SEC – Coinbase Global (COIN) blasted the SEC, calling the regulatory agency's warning of an enforcement action as "not constructive" and "not good for America." Coinbase accused the SEC of pressuring the company into accepting that digital assets sold on Coinbase are securities. - Cloudflare Revises Guidance Down - Cloudflare says full-year guidance will be just $1.28 billion, down from the prior consensus of $1.33 billion. The company is also posting a loss of $38 million for the quarter. NET was down more than 25% in after-hours FOR YOUR CONSIDERATION --------------------------------------------------------------- "The Fed Chairman just casually gave away how many more rate increases the Fed has in store. Even Congress can’t get these answers – but the president of Ukraine apparently can." Can't make it up. Federal Reserve Chairman Jerome Powell was fooled by Russian prank callers pretending to be the president of Ukraine. And he actually gave them (and therefore us) a major scoop on what he has planned on interest rates. Mr. X fills you in. [POWELL'S PRANK CALL]( ) Enjoying Dawn Report? Learn something, made some money? SHARE YOUR STORY WITH US OR TELL US HOW TO SERVE YOU BETTER. Let us know at info@rogueinvesting.com You’re receiving this email because you're signed up for alerts from Dawn Report. Make sure to keep them coming by [whitelisting Rogue Investing]( ). The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. 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