Move over, Nvidia

Dissecting Intel's Horrible Quarter Unsubscribe From Our Partners   Move over, Nvidia Former hedge fund manager who recommended Nvidia when it was still trading around $6 a share is urging folks to pay attention to a critical piece of new technology, he says will reshape America. Congress just approved $900 million to make this tech available across the country. And several famous billionaires have been quietly piling money into it for months. Learn about it here. Dissecting Intel's Horrible Quarter By Robert Rapier   The U.S. economy grew by 2.8% in the second quarter, surpassing expectations. This growth was driven by robust consumer spending, increased government expenditure, and a significant inventory build-up. The majority of companies have reported their Q2 earnings, revealing a generally positive economic outlook. Approximately 90% of S&P 500 companies have shared their Q2 results, showing an 11% increase in earnings and 5% revenue growth year-over-year. Notably, 80% of these companies beat EPS estimates, while 59% exceeded revenue expectations. Despite the strong Q2 performance, estimates for the current period have begun to decline more rapidly than in previous quarters. S&P 500 earnings for Q3 2024 are now expected to grow by 4.7%, down from the 6.9% forecasted in early July. Intel's Disappointing Performance Despite the overall positive market performance, Intel (NSDQ: INTC) experienced a significant stock decline after releasing its Q2 earnings. The company's stock plummeted over 26%, marking its worst trading day in four decades. Intel reported Q2 revenue of $12.8 billion, a 1% decrease year-over-year. The company's gross margin fell to 38.7%, and its EPS of $0.02 missed expectations. In response, Intel announced aggressive cost-cutting measures, including a 15% workforce reduction by the end of 2025 and the suspension of its dividend starting in Q4 2024. Additionally, Intel reduced its 2024 gross capital expenditure forecast to $25-27 billion, down from earlier projections. Read More... His win rate puts Warren Buffett to shame… He's got a higher win rate than Warren Buffett, Carl Icahn, and Mark Cuban… but you've likely never heard his name. What's most amazing is that his unshakable strategy is working just as well today as it did during our long bull market. Even the Covid crash didn't shake it! He's been on a wild 6-year win streak (with no signs of slowing down) How does he do it? Click here to see it firsthand. You are receiving this email at its028@gmail.com  as part of your subscription to Investing Daily. To ensure delivery directly to your inbox, please add postoffice@investingdaily.com to your address book today. Terms   |   Privacy   |  Unsubscribe   |   About Us    ©2024  Investing Daily 20 Pidgeon Hill Drive, Suite 202, Sterling, VA 20165 All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited.