Intel CEO confident in its AI future after posting soft guidance

Yahoo Finance04-27

After several steps forward with investors, it's a few steps back for Intel (INTC). Shares of the chipmaker fell 8% on Friday, following several hiccups in its first quarter results and second ...

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We feel very comfortable with the outlook we have,\" Intel CEO Pat Gelsinger said to Yahoo Finance.The selling pressure on Intel's stock stems from two areas.And second, there was some demand softness from customers — which is causing Intel execs to be on the cautious side for the second quarter guidance.\"We believe Intel has a difficult road ahead as the company begins a multi-year transition phase which involves high capital intensity and an ambitious design roadmap with expectations to move through five process node transitions in four years,\" Stifel analyst Ruben Roy said ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0494093205.USD":"贝莱德ESG灵活多元资产A2 USD-H","LU0234572021.USD":"高盛美国核心股票组合Acc","LU0321505439.SGD":"Schroder ISF Global Dividend Maximiser A Acc SGD","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","BK4566":"资本集团","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","GOOG":"谷歌","LU0251142724.SGD":"Fidelity America A-SGD","BK4543":"AI","INTC":"英特尔","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU0061474705.USD":"THREADNEEDLE (LUX) GLOBAL DYNAMIC REAL RETURN \"AU\" (USD) ACC","LU0511384066.AUD":"SUSTAINABLE GLOBAL THEMATIC PORTFOLIO \"A\" (AUDHDG) ACC","GOOGL":"谷歌A","BK4503":"景林资产持仓","LU0158827948.USD":"ALLIANZ GLOBAL SUSTAINABILITY \"A\" (USD) INC","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","META":"Meta Platforms","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" ACC","BK4561":"索罗斯持仓","BK4097":"系统软件","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H","NVDA":"英伟达","BK4504":"桥水持仓","BK4512":"苹果概念","MU":"美光科技","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","BK4549":"软银资本持仓","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","LU0234570918.USD":"高盛全球核心股票组合Acc Close","MSFT":"微软","LU0238689110.USD":"贝莱德环球动力股票基金","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","AMD":"美国超微公司","LU0642271901.SGD":"Janus Henderson Horizon Global Technology Leaders A2 SGD-H","LU0072462426.USD":"贝莱德全球配置 A2","LU0052756011.USD":"TEMPLETON GLOBAL BALANCED \"A\" (USD) INC","LU0312595415.SGD":"Schroder ISF Global Climate Change Equity A Acc SGD","BK4567":"ESG概念","LU0080751232.USD":"富达环球多元动力基金A","GB00B4QBRK32.GBP":"FUNDSMITH EQUITY \"R\" (GBP) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","BK4507":"流媒体概念","GB00B4LPDJ14.GBP":"FUNDSMITH EQUITY \"R\" (GBP) ACC","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H"},"translate_title":"英特尔首席执行官发布软性指导后对其人工智能未来充满信心","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NVDA":1,"MSFT":1,"META":1,"INTC":1,"MU":0.9,"AMD":0.9,"GOOG":0.9,"GOOGL":0.68},"content_text":"After several steps forward with investors, it's a few steps back for Intel (INTC). \nShares of the chipmaker fell 8% on Friday, following several hiccups in its first quarter results and second quarter guidance. While the company's first quarter earnings managed to surpass forecasts by $0.05, its guidance for the rest of the year came below consensus.\n\"We have a lot of great things happening in the second half of the year. We feel very comfortable with the outlook we have,\" Intel CEO Pat Gelsinger said to Yahoo Finance.\nThe selling pressure on Intel's stock stems from two areas. \nFirst, results for the quarter were constrained by a wafer supply issue that Wall Street failed to properly model.\nAnd second, there was some demand softness from customers — which is causing Intel execs to be on the cautious side for the second quarter guidance. \nIntel expects second quarter sales of between $12.5 billion and $13.5 billion. Analysts were anticipating $13.63 billion. Earnings are projected at $0.10 per share, short of analyst forecasts for $0.24.\n\"We believe Intel has a difficult road ahead as the company begins a multi-year transition phase which involves high capital intensity and an ambitious design roadmap with expectations to move through five process node transitions in four years,\" Stifel analyst Ruben Roy said in a client note. \nRoy maintained a Hold rating on Intel's stock. \nThe company's tepid guidance overshadowed a couple of wins in the quarter and in the past two months.\nGelsinger noted Intel expects to see more than 40 million shipments of AI PCs in 2024, a slight upgrade from his prior outlook. All of the company's planned chip launches for the year remain on track, Gelsinger added.\nIntel recently showcased a range of AI-focused products and services. On display was Gaudi 3, an AI chip for generative AI software that will become available later this year.\nThe company has also unveiled its Core Ultra processor, which will target the aforementioned emerging AI PC market.\n\n\n\n  Intel CEO Pat Gelsinger, holding the \"Gaudi 3\" AI chip, speaks during the 54th Annual Meeting of The Semafor 2024 World Economy Summit in Washington, D.C., on April 17, 2024. (Photo by MANDEL NGAN/AFP via Getty Images)\n \n\n  MANDEL NGAN via Getty Images\n \n\nAnd it was just last month that Intel won $8.5 billion in grants and another $11 billion in loans from the Biden administration to build semiconductor plants in four states. The build-outs are part of Intel's goal to become a leading maker of chips for other companies, rivaling No. 1 player Taiwan Semiconductors (TSMC).\nSaid JPMorgan analyst Harlan Sur, \"Although we continue to be impressed by the current execution, the next 12 months will be the most difficult for the team as they will be launching two data center products and two major client products over three new manufacturing technology nodes — however, we believe it will serve as a strong proxy on the team’s ability to execute over the next 3-5 years.\"\nThe vibe around tech stocks\nIntel's below-consensus earnings and tepid outlook arrive as the threat of higher for longer interest rates weighs on once-hot tech stocks like Nvidia (NVDA). Building out AI infrastructure can also be more costly than expected, as articulated on first quarter earnings call from Meta (META), Alphabet (GOOG, GOOGL), and Microsoft (MSFT). \nSo what's the next move in tech stocks? Yahoo Finance dived in on the latest episode of the 'Opening Bid' podcast (below). \n\nBrian Sozzi is Yahoo Finance's Executive Editor. He is also the host of the 'Opening Bid' podcast. Follow Sozzi on Twitter/X @BrianSozzi and on LinkedIn. Tips on deals, mergers, activist situations, or anything else? Email brian.sozzi@yahoofinance.com. Are you a CEO and want to come on Yahoo Finance Live? Email Brian Sozzi.\nClick here for the latest technology news that will impact the stock market.\nRead the latest financial and business news from Yahoo Finance","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430782581"}