Screenshot from http://finance.yahoo.com/
Intel (INTC) had better than expected earning report. It jumped to $18.02 in after-hours trading. The company reported $0.18 adjusted earnings per share while analysts were expecting $0.08. Same time last year was $0.28, i.e. a drop of ~35.7%. Stock price at about the same time last year was between $22-24. If we discount 35.7%, stock price today would be ~$14.1-15.4. What else? Sales were down 15.3%. The company, though, has "clear expectations for a seasonally stronger second half". Can you interpret it as good news? I personally don't.
I always like INTC. I thought it is a nice company and Intel chip is almost present in every computer. I have been looking at it since January 28th, 2009. I had a little note in my agenda. It says $14.01 on that day. Now it looks expensive. Investors will soon realize that, especially when macro economy picture becomes clearer to them. It's just hype right now.
Volume in the markets is still very light these days. More earning report is coming out this week.