Intel -5.1% AH after cautious enterprise remarks; AMD, Nvidia tick lower

Intel (INTC) CFO Stacy Smith on the Q4 CC, discussing enterprise/government demand: "We saw a tapering off in order patterns at certain customers across certain segments. We think that was driven by the government shutdown and uncertainty." Smith also stated a 2H pickup in enterprise IT spend was a little slower than expected.

Bernstein's Stacy Rasgon, a long-time bear, expressed disappointment over the slowing server CPU division growth Intel reported in Q4 (+8% Y/Y vs. +12% in Q3), and questioned the division's ability to hit an Intel target for low-double digit 2014 growth, especially after sales only rose 3% in 2013.

CEO Brian Krzanich suggests sales of Intel's Bay Trail Atom CPUs for Android tablet designs won't  be significant until Q2. Bay Trail carries much lower ASPs than Intel's Core PC CPUs.

Intel has fully given back its early 2014 gains. AMD -1.1% AH. NVDA -1.1%.

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Comments (3)
  • bearishly
    , contributor
    Comments (13) | Send Message
    Bernstein's Stacy Rasgon didn't get to finish out his question before getting sent back into the queue.


    I expect some extra-bearish retaliation in that note tomorrow.
    16 Jan 2014, 07:00 PM Reply Like
  • blade3colorado
    , contributor
    Comments (149) | Send Message
    LOL . . . Yeah, that was my take too. Thank God I got out of this stock the day before this crap went down.
    16 Jan 2014, 07:09 PM Reply Like
  • MrMatt
    , contributor
    Comments (1395) | Send Message
    Yawn, they hit the guidance numbers, came close to estimates.
    I'm pretty happy, management seems to understand what's going on, and making/executing a plan.


    If these results are a shocking disappointment to someone, they weren't paying attention.
    16 Jan 2014, 09:03 PM Reply Like
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