With Intel's Disappointing Results, The Bull Market Has Ended

Mark it down.  Shortly ago, when the headline “Intel 4th Quarter 38 cents EPS” was sent over the wire services, the bull market that began in October 2002 died.

Not only did we close at 9 month lows Tuesday, but we’re going to be lower Wednesday as well.

As I wrote earlier, analysts were looking for 40 cents a share - 38 cents isn’t going to cut it.  Revenue of $10.712 billion also came in below the low end of analysts estimates which were for $10.75 billion - $11.1 billion.  Revenue in Japan and Europe were strong but Asia/Pacific and the Americas weak (INTC 4Q Earnings Release).

Intel shares are getting crushed after hours, down about 14.5% currently (1:50pm PST).

Look for tech to get hammered again at the open Wednesday.

Comments

[Michael]

That's funny. I thought it ended when Blackstone went public. That was the top!