Editor’s Note: Related tickers: Intel Corporation (NASDAQ:INTC)
Intel’s Sales Forecast Trails Estimates as PCs Lose Favor (Bloomberg)
Intel Corporation (NASDAQ:INTC), the world’s largest semiconductor maker, forecast third-quarter sales that may fall short of some analysts’ estimates as a slump in the personal-computer market erodes its largest business. Revenue in the current period will be $13.5 billion, plus or minus $500 million, the Santa Clara, California-based company said yesterday in a statement. Analysts on average had predicted sales of $13.7 billion, according to data compiled by Bloomberg. Intel Corporation (NASDAQ:INTC) shares dropped as much as 3.6 percent. The company reported its fourth straight revenue decline in the second quarter as consumers shunned the PCs that provide the company with most of its sales, opting instead for smartphones and tablets to get online.
Intel CEO Apologizes for 29% Profit Drop, Promises $150 Atom Tablets (DailyTech)
Analysts had hoped [source] that Intel Corporation (NASDAQ:INTC), the world’s largest maker of chips for traditional personal computers, would post revenue of $12.9B USD and a profit of $0.40 USD/share ($2.05B USD). Instead the chipmaker slumped on slow PC sales, posting a net income/profit of $0.39 USD/share ($2.00B USD) on revenue of $12.8B USD. …The miss might seem small, but for investors it was very unsettling. The sentiment is that while Intel Corporation (NASDAQ:INTC) may be profitable for now, the company missed the major direction the market is heading towards: mobile devices. Profit slid 30 percent in a year and analysts are wondering if that trend will continue, leaving Intel Corporation (NASDAQ:INTC) in dire shape in just a couple more years. Driving this slide is the trend towards cheap tablets (hybrid tablets/laptops) and smartphones which are cannibalizing traditional PC sales.
45 years of Intel: but can it keep pace with portability? (TechRadar)
Intel’s 45 today: the Intel Corporation (NASDAQ:INTC) – Intel’s a portmanteau of Integrated Electronics, although it was nearly called Moore Noyce after its founders Gordon E Moore and Robert Noyce, a decision that was abandoned when they realised it sounded like “more noise” – was founded in 1968. Today we think of Intel Corporation (NASDAQ:INTC) as a processor firm but it started off making memory, and while it marketed its first microprocessor in 1971 there was a period where its future appeared to be not in processors, but in digital watches. But Intel’s processors hit the big time with the arrival of the IBM PC, which turned out to be quite popular: the combination of Intel processors, PC-compatible hardware and Microsoft operating systems would dominate computing for three decades.
Will Intel Corporation Lead the Market Lower? (Minyanville)
Intel Corporation (NASDAQ:INTC) reported earnings last night and they were not much to talk about. Although the company hit its earnings forecast, its full year revenue forecast was missed for the quarter and was cut for the year. Imagine that, you can’t grow the top line yet you can make the bottom. Hasn’t that been the case for most companies for more than a year now? Shares traded down 4% after hours as a result. Now, if it were just Intel Corporation (NASDAQ:INTC), one could simply overlook the abysmal numbers and move on, but the Nasdaq Composite (INDEXNASDAQ:.IXIC) and the narrower Nasdaq-100 (INDEXNASDAQ:NDX) have been front and center leading this market higher in an uninterrupted fashion for the past few weeks and Intel Corporation (NASDAQ:INTC) is a big part of that mix.