Intel Q3:
•Good revenue, expense control and a solid guide.
•Intel beat on revenue by $260M
•Good “Patrick” Adjusted gross margins in the 40s and better than expected EPS expecting 3 cent loss turned to a 15 cents $3.1B write offs in the numbers
Profit and gross margin are a bit more complex.
Intel took $15.9B in impairment charges, $3.1B that show up on non-GAAP EPS line. Without those, the company would have had an non-GAAP EPS of .17/.15, which exceeded the street expectations of a 3 cent loss. Net-net Intel beat of profits the way I look at the world.
Gross margins would be in the 40s, too.
And surprisingly, that’s the way Wall Street is seeing it.
Highlights:
•5 nodes in 4 years on track 18A turnaround node, while TSMC raising prices. This isn’t all I care about but it’s all I care about.
•$10B cost reduction plan appears to be on-track
•PCs down 7% YoY, AMD likely taking share. 100M AI OCs end of ‘25.
•Datacenter and AI +9% (Thanks Xeon) Launched Gaudi 3
•NEX +4% (surprising)
•Foundry down 8% (small number, 18A hasn't kicked in)
•Altera down 44% (larger than I would have thought, but that market is rough)
Cijfers INTC worden nabeurs goed ontvangen. +10%
Verwacht persoonlijk geen positieve reactie morgen hierop voor onze drie chippers. Algemeen sentiment is down momenteel.
Indien wel, dan is het meegenomen.