Biotech Values

[DewDiligence]

INTC is a company where, no matter how great the results, analysts have always cited a reason to worry. For instance, in 1Q10 when INTC reported its highest-ever gross margin, some analysts downgraded the stock because they said the gross margin was peaking (seriously). If the analysts aren’t finding fault with the gross margin, they’re complaining about the sales mix. Or the geographical mix. Or the inventories. Or the DSO’s. Or the tax rate. Or whatever.

This quarter was different, however. INTC blew away the analysts’ forecasts on every metric of consequence. Years from now, when someone looks up the phrase blowout quarter in some internet dictionary, the entry will say: “See Intel, second quarter, 2010.”