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Intel CEO confident in its AI future after posting soft guidance [Yahoo! Finance]
Last intel corporation earnings: 4/23 04:07 pm
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US:NASDAQ Investor Relations: intc.com/investor-relations/default.aspx
Shares of the chipmaker fell 8% on Friday, following several hiccups in its first quarter results and second quarter guidance. While the company's first quarter earnings managed to surpass forecasts by $0.05, its guidance for the rest of the year came below consensus. "We have a lot of great things happening in the second half of the year. We feel very comfortable with the outlook we have," Intel CEO Pat Gelsinger said to Yahoo Finance. The selling pressure on Intel's stock stems from two areas. First, results for the quarter were constrained by a wafer supply issue that Wall Street failed to properly model. And second, there was some demand softness from customers — which is causing Intel execs to be on the cautious side for the second quarter guidance. Intel expects second quarter sales of between $12.5 billion and $13.5 billion. Analysts were anticipating $13.63 billion. Earnings are projected at $0.10 per share, short of analyst forecasts for $0.24. "We believe Intel
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