The thing that annoys me the most is that things were looking OK. We finally rid ourselves of the austerity measures, we resumed the intercampus flights, the stock almost doubled in 2023, dropped in early 2024, but had recently made it all the way back to 37. News media was starting to believe the turnaround. We are ahead of schedule on for 5N4Y and 18A, Intel 3 is completed and shipping products. Pat and Dave were raving about AI PC sales and saying we cannot product AI PC chips fast enough. We landed a big foundry deal with Microsoft, Gaudi 3 is looking promising.... I get it that sales might not have been as good as expected, but no reason was given. Was it due to the restrictions on our chips in China? Were significant sales lost due to 13/14 gen over voltage issues? What is it? General comments about headwinds, macroecomic conditions, channels, inventory surplus, or market conditions don't cut it. We deserve to know why revenues were not what we expected, not just what the numbers were. And it's not just Pat and Dave. Wall St analysts were way off too. I do think it will improve in 2nd half as Lunar Lake and Gaudi 3 launch and as more sales of Xeon 6 are made. The thing that worries me most is the loss of trust with potential customers, especially for foundry. The 13/14 gen oxidation issue and general state of the company will make any potential foundry customer reconsider. We must gain back this trust
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You think we have someone on the payroll to watch over this.
Q2 sales were only slightly behind forecast. It was really the gross margin that tanked the stock and that way largely due to internal decisions, especially the more of MTL manufacturing to Ireland. Huge finance miss that we didn’t model that correctly and were surprised.
"I do think it will improve in 2nd half as Lunar Lake and Gaudi 3 launch and as more sales of Xeon 6 are made."
LOL
It was a book manipulation done in past Q…
Grand pa did in VMware and got fined by SEC
https://www.sec.gov/newsroom/press-releases/2022-160
Twenty years ago intel could put out a new CPU in 9 months, it now takes 6 years before ready for mass production.
PG does not understand this, he thinks new CPUs can be released like the days he worked at intel and we were putting out 486 CPUs.
That is why you should promote from within, you need to have the history and experience.
Truth is finally setting in. DZ even admitted they were overselling things. I think they were hoping for a bit of luck in Q2 and it didn't go there way and doesn't appear to get better in Q3 and Q4. Now, they can no longer hide the fact that the revenue they lost was not temporary and is not coming back any time soon. They have to right size.
I do agree with you though that more of an explanation is needed from ELT.
Well, if it's really false narratives, that borders on fraud.
False narratives. It was always this bad, but the crossed fingers finally cramped up and had to be uncrossed in the light of reality.