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Intel still looking for next growth play as it reports Q1

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It's been nearly a year since chipmaker Intel named Brian Krzanich as its new CEO, and in that time, the troubles it faces haven't changed.

First, there's the ongoing malaise of the personal computer industry for which Intel is a primary supplier: When the market research firm IDC reported a 4.4 percent year-on-year decline in unit shipments in the first quarter of the year, it was greeted as good news because it was somewhat less bad than feared.

Intel's other major end market for chips, the servers that run in massive data centers, hasn't been faring much better: IDC reported a similar decline in the fourth quarter of 2013, the most recent quarter for which data are available. And that business is coming under attack from a new generation of chips based on rival designs from the British chip design firm ARM.

Read the rest at Re/code.

—By Arik Hesseldahl, Re/code.net.

CNBC's parent NBC Universal is an investor in Re/code's parent Revere Digital, and the companies have a content-sharing arrangement.