Intel’s earnings forecast sparks skepticism

As Wall Street weighed in Wednesday on Intel’s earnings report from yesterday, a number of analysts found the company’s expectations a tad too optimistic and some expressed concerns about the chip-maker’s future.

Several sounded particularly dubious of the company’s assertion that its sales should perk up later this year when it introduces a new chip and that more consumers will be drawn to stores by a drop in ultrabook prices.

Here are a few samples from the notes they sent their clients:

J. P.  Morgan – “Intel is too optimistic in its growth outlook.”

BMO Capital Markets – “It appears that Intel believes it can truly extend its process/manufacturing lead over the rest of the industry. Additionally, the company seems to be operating with the view that it can leverage that lead and take a reasonable share of the mobility market. We are not on board with either of those lines of thinking.”

FBR Capital Markets – “We remain skeptical… we do not see Intel making meaningful progress in either handsets or tablets in the near future.”

Raymond James – It called the projections “aggressive” and concluded “Intel is, in our view, quite vulnerable.”

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