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.”