As the world’s largest maker of computer chips, Intel is considered a bellwether for the wider industry. So the fact that the company’s latest revenue and profit numbers handily beat expectations is a very good sign indeed.
Looks like the worst is once again behind us. In remarks at the Intel Developer Forum on Tuesday, Intel CEO Paul Otellini said the PC industry is headed for recovery, albeit slowly.
Thirty years at Intel was evidently more than enough for Pat Gelsinger. He’s giving up his job as senior VP of the company’s Digital Enterprise Group to run EMC’s storage-products operations, The Wall Street Journal reports.
When Intel CEO Paul Otellini said “the worst is now behind us,” he was clearly not referring to AMD. Posting earnings Tuesday afternoon, AMD reported an ugly loss of $330 million, or 49 cents a share–greater than the 47 cents analysts had been expecting.
Three months after Intel CEO Paul Otellini announced that the PC market had reached bottom, the company’s latest financials, which handily beat expectations, seem to have proven him right. “The worst is now behind us,” he noted. And the tech economy is showing signs of muted recovery. The question is: Is that recovery sustainable?
If Intel’s latest earnings are truly an indication of how the tech industry is holding up in the econalypse, then the tech industry isn’t doing too badly (though, obviously, it has seen better days). After market close Tuesday, the chip behemoth posted second-quarter results far in excess of expectations.
Ouch. European regulators slapped Intel with an antitrust fine and, as expected, it’s a large one–a record $1.45 billion, which dwarfs even the $1.2 billion fine levied against Microsoft in 2008. The largest ever assessed for monopoly abuse, the fine follows charges that Intel abused its market dominance by illegally inducing PC manufacturers to use its chips over those of rival AMD.
“The worst is now behind us.” Intel CEO Paul Otellini made that brave statement back in April. And not a month later, it’s proving true. Commenting on Intel’s business during an event for financial analysts Tuesday, Otellini said, “Looking at order patterns, billings patterns, it’s a little better than expected.“
Intel CEO Paul Otellini has confirmed what “people familiar with the matter” and industry observers have been saying for months now. Sun is eager to find a buyer and has offered itself for sale to IBM and pretty much anyone else who might have the cash to acquire it.
“We believe that the shipment crossover of desktop PCs to mobile PCs will now happen this year and not next year, as we originally anticipated.” Intel CEO Paul Otellini made that prediction this past April, and it would appear he’s been proven right.
Apparently, someone forgot to tell Intel (INTC) about the recession. The company reported a sharp rise in profit on Tuesday in the face of a flaccid U.S. economy.
Intel’s putting the mobile phone market on speed dial. Two years after selling off its chip business for mobile handhelds and cellphones to Marvell, the world’s largest chip-maker is turning its attention once again to the mobile phone market with dollar signs in its eyes.
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper.
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
Best video mashup ever.
A Facebook Memorial
Wow.
Worth it for the Rickrolling photo alone.
Excellent.
Flughumor!
… you vacuous, toffee-nosed, malodorous perverts
Stephen Fry and zoologist Mark Carwardine meet the kakapo — a fat, flightless and very randy rare parrot.
Spectacular in the bellowing Russian sailor sense of the word …
“If you spell something wrong on your insurance claim, do you really deserve surgery? I don’t think so …”
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