Excess chips a drag on 3rd-quarter Intel results
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Intel on Tuesday released third-quarter financial results showing that it continues to struggle to sell a substantial stockpile of computer chips as demand for personal computers remains slow.
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Intel Corp., the world's largest chip maker, raised its third-quarter revenue outlook on Monday due to stronger-than expected demand for its microprocessors.
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Intel Corp.  will  miss its 2004 product cost reduction targets because of a widely publicized string of product delays and problems, but those missteps are largely behind it now, the world's largest chip maker said on Tuesday.
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SAN FRANCISCO -- Shares of Intel Corp. fell more than seven per cent yesterday after the computer chip giant&#39;s management lowered the company&#39;s financial projections after concluding businesses and consumers aren&#39;t in a spending mood.
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Intel  on Tuesday posted  quarterly results and an outlook behind Wall Street targets,  sending its shares down 15 percent and stoking concerns about a  U.S. recession and further stock market sell-offs.
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The chipmaker appears to have put its major problems in the rearview mirror. Plus: Intel's mobile Linux project.
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Intel&#39;s revenue increase for the fourth quarter fell short of analysts&#39; estimates in part because of weak prices for memory chips.The company recorded revenue of $10.7 billion, up 10.5 percent year over year, missing the $10.8 billion estimated by analysts polled by Thomson Financial.Though revenue from computing-related products was as expected, NAND memory revenue was lower than expected, Intel said in a news release.The company reported net income of $2.27 billion, below analysts&#39; estimates of $2.38 billion. Earnings per share were $0.38.Intel in November rolled out its next-generation Penryn processors,&#160;which the company claims provide better power efficiency and graphics performance than its earlier chips. Manufactured using the 45-nanometer process, the company first launched Penryn chips for workstations and in early January rolled out 45-nm chips for servers, laptops, and desktops.Intel is expected to launch processors for its Montevina platform, an upgrade to its mobile Centrino platform, later this year. It will also roll out Menlow, a platform for ultramobile computers, later this year. Intel is also working on a new chip architecture code-named Nehalem, which will appear in late 2008.
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Blog: Chipmaker reaffirms third-quarter launch schedule for quad-core Barcelona chip but says shipments to Cray of different quad-core processor have slipped.
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With Christmas just 11 days away, you have to wonder what Hector Ruiz is going to find under his tree. It&#8217;s been a terrible year for Advanced Micro Devices, and the chipmaker&#8217;s analysts conference on Thursday did nothing to spread holiday cheer.Confirming what many in the chip world had suspected for some time, CEO Ruiz and other AMD execs fessed up that bugs in its new quad-core Barcelona server and Phenom desktop chips will&#160;delay these key next-generation technologies.The technical problems will delay general availability of the fastest version of the chips for three or four months. Customers willing to settle for slower clock speeds will be able to get the processors sooner; for example, AMD will ship a 2 gigahertz version of the Barcelona first, instead of the expected 2.5 gigahertz speed. In either case, the chips will be close to a year late; the original target date was the first quarter of 2007.AMD STUMBLES AS INTEL SPEEDS AHEADThe problem couldn&#8217;t come at a worse time. AMD has struggled all year to close the performance gap between its high-end chips and Intel&#8217;s. Barcelona, the company had promised, would restore its technical supremacy. Indeed some analysts said they had expected the quad-core server chip to do just that. &#8220;At 2.5 gigahertz it would have beaten any Intel products,&#8221; said analyst Nathan Brookwood of Insight64. &#8220;But at 2 gigahertz, it&#8217;s bringing up the rear,&#8221; he said.Intel, meanwhile, has corrected many of the problems that dogged it earlier in the decade. &#8220;AMD isn&#8217;t competing against the Intel of two years ago,&#8221; said Dean McCarron of Mercury Research. Intel has had quad-core chips in the market for about a year. To be fair, its chips are based on a somewhat simpler design; Intel gets to four cores by packaging two dual-core chips together. By contrast, AMD&#8217;s design integrates four cores on one chip, a more efficient solution, said McCarron. Except that AMD&#8217;s approach reduces yields and thus raises manufacturing costs, he added.There was earlier speculation that Barcelona&#8217;s problems were related to the ATI graphics chipset, but the problem turns out to be deeper, at the chip level. AMD has said it is related to the translation lookaside buffer (TLB) in the processor&#39;s L3 cache.DOUBTS ABOUT A QUICK FIXIn the Thursday conference, analysts had expected discussion of the company&#8217;s &#8220;asset light strategy,&#8221; which will apparently entail outsourcing more manufacturing to foundries such as Chartered Semiconductor or TSMC. But they didn&#8217;t get it, and the lack of details made CEO Ruiz&#8217;s promise to return to profitability in 2008 less credible to Wall Street. AMD&#8217;s financial performance has been terrible, losing money for four straight quarters. Part of the reason: Intel and AMD have engaged in a bloody price war, a struggle that has been very tough on the smaller company&#8217;s profit margins. But the Barcelona and Phenom delays are serious self-inflicted wounds.AMD&#8217;s stock lost another few points yesterday and has now shed about 40% in the last two months and a bone-jarring 56% since the beginning of the year. At $8.84 a share, Thursday&#8217;s closing price, the stock is at its lowest ebb since the summer of 2003. Ironically, AMD has so far&#160;rewarded Ruiz with pay raises.
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Last night, Intel sharply raised its fourth-quarter outlook. The chipmaker says it now expects revenue of $9.3 billion to $9.5 billion, not the $8.6 billion to $9.2 billion it forecast in mid-October.
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Chipmaker reports record sales of server and notebook processors, but net income dips.
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The chipmaker gets another downgrade on Friday.
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Intel Corp., the world&#39;s biggest maker of semiconductors, reduced its third-quarter revenue forecast Thursday, blaming lower-than-expected demand for flash memory and PC chips.
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High-tech bellwether Intel lowered its financial outlook yesterday, providing the latest sign of the economy&#39;s doldrums. The Silicon Valley computer giant said its third
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Move is the latest setback for the chip Intel once billed as an industry standard.
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Server maker drops UltraSparc IIIi+ processor to focus on other, higher-priority chips.
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Intel Corp.  shares fell to  a three-year low Friday after No. 1 personal computer maker  Dell Inc.  said it would begin using chips from smaller  Intel rival Advanced Micro Devices Inc. , whose shares  surged.