AMD announced revenue shortfall today but egoistic Pat can't announce revenue shortfall and like to surprise market on earnings day. Last quarter revenue shortfall was huge compared to guidance but still didn't bother to announce it. I am sure intel will report lower revenue than guidance this quarter.
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Intel should pre-announce they are hiring thousands of indians as a warning to investors.
@2sxo+1j47vsGw -- Also I forgot to add. Due to low cash balance of $4.4B, Pat is desperate for Mobileye IPO even in this bad market at lower valuation. He is banking on getting money from Mobileye IPO to pay dividend and current high cash burn rate on R&D.
@2sxo+1j47vsGw -- Intel has actually 4.39B net cash. Your 27B cash doesn't consider outstanding debt.
Look "Cash and cash equivalents, end of period " under Consolidated Condensed Statements of Cash Flows
https://www.intc.com/news-events/press-releases/detail/1563/intel-reports-second-quarter-2022-financial-results
Intel will bank tuition soon they have only 27B cash on hand, and paying up to 6B yearly dividend. It will take about 3 years to drain their fund. No hope for Intel.
The final ACT is coming
The last time Oregon (Washington County) gave Intel incentives, was in 2016. The incentive was an $800 million tax break, and was quickly followed by A.C.T. That particular layoff was supposed to be ~12,000 but ended up being a bit over 18,000 (worldwide).
Oregon needs to tell Intel to go F itself!
Layoffs are again coming and it's supposed to be 6-10%.
@1mga+1j47vsGw -- There is particular window when only company can pre announce earnings. That window will close by today. Now we will get surprise on earnings day.
Intel execs (aka Pat) just yesterday sent a begging letter to the state of Oregon... If you don't give us more incentives, Oregon will miss out in the next construction bo-m!
How many fabs is Pat planning to build in exchange for all these state/federal governments' gifts?
They didn’t preannounce because the Chips act wasn’t passed yet.
They couldn’t look bad while at the same time begging the government for money.
The analysts even asked them on the earnings call and Pat gave some BS non-answer in CEO-speak.
I fully expect Intel to warn soon. Most likely after the Raptor Lake launch to avoid tainting the launch with bad PR.
Cost cuts are all but certain as Intel goes from FUBAR, to nuclear winter!
The Dr. Lisa Su-led company said third-quarter sales would be about $5.6B, compared to estimates of $6.71B. The company blamed the shortfall on a weaker-than-expected PC market and continued inventory corrections.
“The PC market weakened significantly in the quarter,” said Dr. Su in a statement. “While our product portfolio remains very strong, macroeconomic conditions drove lower than expected PC demand and a significant inventory correction across the PC supply chain."
Dr. Su added that AMD's (AMD) data center, embedded and gaming segments continued to show strength and the company's business model and balance sheet will help it navigate the downturn.
Breaking it down by segment, client revenue fell 53% sequentially and 40% year-over-year to $1B, while data center revenue rose 8%