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The shares of the two tech veterans IBM and Intel suffered high price losses on Wall Street on Friday – but for various reasons. While IBM scared investors off with weak quarterly figures, they took profits at Intel after strong business results and high price premiums.
The lucrative cloud business with IT services and storage space on the Internet has recently grown much more slowly than in the previous quarter.
The results in the cloud business fell well short of expectations. That limits the potential for the share price. Looking ahead, Vogt anticipates continued sluggish demand for cloud services.
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The fourth quarter of 2020 was very strong,” said Stacy Rasgon from the Bernstein investment company. At 20 billion US dollars, sales have clearly left the market expectation of 17.5 billion dollars behind.
The forecasts for the current first quarter of 2021 are also optimistic for this reason.
Despite such warm words, Intel shares fell victim to their latest strength on Friday: from the low just a month ago to the daily high on Thursday evening, the price jumped more than 40 percent in a broad sector rally for chip stocks. After this rally, investors now cashed in, the price slumped 8.5 percent on Friday.
onvista / dpa-AFX
Title photo: Laborant / Shutterstcock
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