Intel earnings miss estimates, stock falls 3.03%

Monolithic Power Systems Inc MPWR shares are trading lower by 3.03% to $412.18 Monday afternoon. Shares of several semiconductor and chip companies are trading lower Monday, weakness may be due to Intel Corp's worse-than-expected fourth-quarter report, which has weighed on sector sentiment ahead of earnings. The broader market is lower ahead of the decision of the Fed this week.

Intel said fourth-quarter revenue fell by 32% year-over-year to $14 billion, which is less than analyst estimates of $14.49 billion. Revenue for full-year was $63.1 billion, down 20% year-over-year.

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Intel prioritized rationalizing its investments and right-sizing the organization over the fourth quarter.

The company reported a loss of 16 cents per share in the fourth quarter, missing analyst estimates of 20 cents per share. Intel said full-year EPS was $1.94. 39 and a 52 week low of $301.69.