Zeev's Turnips Patch-No Politics (ZEEV)

[punkle]

Zeev,

I think the INTC earnings were decent but fail to see the stock take off from here. Here are some thoughts:

- $7.8B vs. $7.72B (not exactly crushing the revenue number but a little better nonetheless).
- .25 vs .23 EPS. Decent numbers.
- CAPEX changed from $3.5-$3.9B range to $3.6M - $3.7B range. This is a negative for the market - many expected them to raise CAPEX.
- Q4 guidance of $8.1 - $8.7B - expectations were already $8.3B so this seems to be right in line, maybe a higher upside.
- Q4 margins of 60% (sounds like they're keeping their expenses way down and squeezing suppliers who probably have no pricing power but this is nonetheless a positive for INTC but maybe not for the market)
- Biggest negative is the stock has risen over 50% already from July when they started raising their outlook.

Seriously, I'm trying to look at this from a balanced perspective. I have never seen as much bullishness in the press and on this thread as I see today which always calls for caution.