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Intel (INTC -0.9%) ticks lower after receiving two more estimate cuts, courtesy of Stifel and...
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Monday, July 9, 2012, 10:17 AM ETIntel (INTC -0.9%) ticks lower after receiving two more estimate cuts, courtesy of Stifel and JPMorgan. The former is worried about the impact of macro conditions, Windows 8 anticipation, and high ultrabook prices on Q3 results, while the latter says checks indicate customer orders slowed in Q2 due to worries about Euro and Chinese trends. Caris, Baird, and others have already slashed estimates, and it looks as if some near-term pessimism is baked into shares.
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When one of the clowns backed him into a corner about, "a bad Europe has to affect those numbers, doesn't it?" He replied that Europe is no secret and that condition is considered in the 2012 projections.
Smith, of course is the guy who keep dialing Otellini back from "20% growth" to, "Oh, I think Paul meant to say 10% growth".
http://bloom.bg/Oqbx2U
By the end of this year Intel will have at least twice as much capacity to make transistors as they had at the end of 2010.
Are they doing an unprecendented ramp of three 22nm plants just to mothball one? I don't think so.