Intel Corp (INTC)

[Unkwn]

On a quick glance, I don't like the results. Basically everything is down or only slowly growing. Data center had only minor growth, same for IoT. NVM is margin depressed (ok, that has been known) and how Altera is actually doing is an unknown, due to accounting changes. I suppose the Stratix 10 disaster drags it, though.

Here's what Krzanich had to say about it:

PSG is on track to ship 14-nanometer Stratix 10 samples this year, and I'm very pleased with both the integration of this business and their strong execution.

Yup, great, shipping one year late, losing lots of key customers simply because you couldn't get your stuff right in time is strong execution, for sure. I really would like to slap in someone's face right now ...

The only positive is that PC seems to finally find a bottom, but that's really at a low level and I guess it is the major reason for the stock to recover as much as it did. The channel checkers may know more than we do. Lenovo, for instance, also had seen its stock rising lately, probably for the same reason.