@vanzandt So what is the deal here? Looks like Intel beat all estimates across the board. So why did the stock do this after their earnings report? Is it really because of their forward numbers? It is amazing to me that when they beat their just-passed quarter numbers, they lower their outlook for their upcoming quarter and investors panic and dump the stock. Geez.
Small earnings surprises are usually a really bad predictor for the stock move. You only see a strong correlation when the beat or miss is very large. Edit*If you look at the stock price over the past week, it really showed its hand on what the market expected to happen (moved priced in?)
I've seen this hundreds of times - stocks dropping based on lowered outlook. Outlook seems much more important than earnings since everyone wants to get in first when the outlook is great while no one wants to be last to the exit knowing they're nearing a peak. And currently the market doesn't seem to care much about earnings anyway, seeing so much noise about recession.
China has bigger problems than our tariffs. That's a convenient excuse. Man there are red flags everywhere (worldwide). 2600 is gonna fall.