After the bell, Intel Corp. announced its 4th Quarter earnings and even though it beat analysts’ projected numbers, the company guided down expectations for First Quarter 2024 citing company specific challenging business conditions, the market reacted negatively to Intel’s forward guidance and the stock was hammered in after hours trading, down more than 10%!
Mea Culpa:
To be honest, I totally blew it on Intel!
When I decided this morning to take half of my juicy profits from the QCOM trade off the table, I should have done the same with my Intel positions. But since my Intel calls, though profitable, were not as juicy as my QCOM contracts, I did not give them much attention and also ignored the fact that Intel was reporting after the bell. And considering that I especially don’t subscribe to the earnings play routine, not selling half of my Intel’s position is even more perplexing and also unforgiving.
I will be paying the piper for my bone-headed mistake tomorrow… 🙁
Furthermore, being an Intel bull, I am deeply disappointed in Intel’s management for not doing a better job competing against Nvidia, AMD and QCOM as they take full advantage of the current Ai infused chip bull market…
Onwards but Downwards!
karim
DISCLAIMER: I am not a licensed broker or securities dealer. All postings made here are strictly for my personal record keeping and in no way, shape or form, am I even remotely suggesting others to follow my Buy and Sell moves. Trading options is not for the faint of heart as one’s portfolio can move up, or down 10%—50%, or more, during a single trading day, so trade with extreme caution. Past performance is no guarantee of future results.
Full Disclosure: I own options in the stocks of companies mentioned in my posts.