Here's Why Intel (INTC) Fell More Than Broader Market

Intel (INTC) closed at $89.47, down 2.85% in the latest trading session, underperforming the S&P 500's 0.25% loss. Despite the daily decline, the company is expected to report strong earnings with EPS projected at $0.39 (up 69.57% YoY) and revenue of $16.36 billion (up 19.85% YoY). However, Intel trades at a Forward P/E of 62.86, significantly above its industry average of 38.61, and holds a Zacks Rank #3 (Hold) rating with a slight downward revision in consensus EPS estimates.