Management has guided down in 4 of the last 5 quarters. You see from the conference call that there were 4 different analysts openly questioning Intel's overly optimistic 2H13 expectations. Even after lowered guidance, the street still thinks it's too optimistic. http://blogs.barrons.com/techtraderdaily/2013/07/18/intel-slips-poised-for-new-era-say-bulls-expectations-still-wishful-say-bears/ James Covello, Goldman Sachs: “Intel lowered its full-year forecast, and this is the fourth time in the last five quarters ... We attribute this to management struggling to accept how cannibalistic tablets and handsets are to PCs.
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