Intel Corp (INTC)

[jhalada]

Alan,

But again, I did hear a rumor that much of that was NAND start-up and R&D costs.

Hard to say without breakdown of revenue and costs. But a couple of data points with YoY data, IMO, show that it is most likely NOR, unless there were some drastic cuts in that division:

 
  
 NAND+NOR  Q1 2007     Q1 2008    NOR% 
 revenue     469          544      ~0% 
 loss        283          125       ? 
 costs       752          669

We can only guess what the NAND % is of overall flash revenue. But just a WAG of 25% would mean following:

 
  
 NOR       Q1 2007     Q1 2008    YoY 
 revenue     351          544     -35% 
 loss          ?          125       
 costs         ?          669

With a possible loss of $192M in NOR revenue, it is hard to see how a losss has not gone up significantly YoY from $125M.

If Intel does go ahead with sale / divestiture from flash, one day the results may be restated with NAND only, which would clarify NOR situation for last few quarters it has been mixed with NAND.

Joe