I will sell Intel (INTC) out of my Jubak Picks Portfolio tomorrow, April 12. The position was up 14.55% as of the close on April 11 since I added it on February 8, 2023.
Intel is set to report on April 27 and it will be an ugly quarter with Wall Street looking for a loss of 15 cents a share versus earnings of 87 cents a share in the first quarter of 2022. The quarter might be so ugly that the company opts for a kitchen-sink approach, loading up the quarter with bad news and write-downs to get everything negative out at once. That would, theoretically, clear the way for the stock to rebound in coming quarters.
I say “theoretically” because PC sales are projected to have fallen 30% or more in the first quarter with a recovery in sales 12 to 18 months away. That’s a long time to wait with the possibility of a two-quarter economic recession hoovering over the financial markets. (And remember my recommendation is to take profits and raise cash right now.)
I think I’ll take my profits here and look to rebuy when the macro (and micro conditions) aren’t quite so daunting.
