Intel’s earnings won’t do much to clear up the picture for big tech. The company beat slightly on earnings ($.35 vs. $.34 est.), missed slightly on revenue: ($10.21B vs. $10.26B est.), while delivering gross margins of 59 per cent, roughly in line with expectations. The stock is up over 5% after hours, but that’s basically what the company lost during today’s trading so it’s really a wash.
The big question mark is outlook, and on this, your guess is as good as theirs: “Current uncertainty in global economic conditions makes it particularly difficult to predict product demand and other related matters and makes it more likely that Intel’s actual results could differ materially from expectations.”
For the current quarter, the chip maker sees revenue in a range of $10.1B-$10.9B. Current estimates are for $10.77B, so at the midpoint $10.5B, the guidance is light.