Replies to post #25365 on The Rising Influence of Rising Affluence

[DewDiligence]

An ugly, ugly quarter for INTC:

https://www.wsj.com/articles/intel-shows-limits-of-chips-act-11659105553

Revenue slid 22% year over year to $15.3 billion, while adjusted operating income plunged 78% to $1.4 billion. ...Intel also projected disappointing third-quarter results and slashed its full-year revenue forecast by 15%. The high end of the new forecast would be Intel’s lowest annual revenue in five years.

…The company also had a whole new negative surprise in its crucial data-center business. A bug discovered in the new server processor known as Sapphire Rapids has delayed significant volume shipping of that chip until next year. …Data-center sales slid 16% year over year. More notably, operating margins slid to less than 5% for that division, which once commanded margins in the 50% range.