Intel Corp (INTC)

[DewDiligence]

At INTC, the picture gets uglier still:

https://www.wsj.com/articles/intels-leap-of-faith-turns-into-a-lurch-11674832525

There is never a great time to spend obscene amounts of money fixing problems years in the making. For Intel Corp. though, the timing couldn’t be worse.

…Revenue for the year fell 20%—the worst annual decline the company has seen since the dot-com bubble burst in 2001.

…Capital expenditures totaled $24.8 billion, up 33% from the previous year. That is an eye-popping sum from a company that has typically spent in the midteens billions of dollars, and even more so considering it represents 39% of Intel’s revenue for the year.

…Intel projected a 40% year-over-year revenue decline in the first quarter, which would be the worst drop since at least 1992… The company even broke with past practice by declining to give a projection for the full year…