Intel stumbles on weak guidance
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 26 January 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Friday, January 26th. I'm Julie Morgan. |
| 0:13.2 | Intel stumbles on weak guidance. |
| 0:15.6 | Apple announces a big shakeup and PG&E is paying out millions in a fire settlement. Intel significantly weaker than expected guidance for the coming quarter |
| 0:26.8 | overshadowed a continued rebound in PCs. |
| 0:30.3 | Looking ahead, Intel expects first quarter revenue to be between 12.2 and $13.2 billion, |
| 0:37.0 | well below the $14.25 billion analysts were anticipating. |
| 0:42.0 | It also anticipates earning an adjusted 13 cents per share, |
| 0:45.7 | with adjusted gross margins of 44.5% and a tax rate of 13%. |
| 0:51.5 | Analysts were anticipating adjusted earnings of 42 cents per share. |
| 0:56.3 | Intel CFO says the company expects to unlock further efficiencies in 2024 and beyond, as Intel implements a new model which is designed to |
| 1:06.0 | drive greater transparency and accountability and higher returns on their owner's capital. |
| 1:12.2 | Pre-market Intel is down more than 12%. |
| 1:15.0 | Competitor Amd is also in negative territory in pre-market action |
| 1:20.0 | on the back of Intel's results. |
| 1:22.0 | AMD is down more than 3%. |
| 1:25.5 | Apple will dramatically revamp its iOS, safari, and App Store offerings |
| 1:30.7 | in the European Union in a bid to comply with tough new tech rules. |
| 1:34.8 | For the first time ever, Apple will allow third-party app stores on iOS, |
| 1:39.8 | ending its position as the sole distributor of iPhone apps. |
| 1:44.0 | Customers will also be able to choose alternative payment systems and |
| 1:48.0 | switch the default browser more easily. |
... |
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