How times change.
In the not-too-distant past, a warning from microchip giant Intel that its quarterly revenue would be almost a billion dollars lighter than it previously thought would tank the broader market.
And indeed, the last time the company did cut its revenue forecast—in September 2012—it did hit the market. Then, when the company said revenue would be light by $600 million, Intel shares went on to lose 19 percent over the next two months and the S&P 500 pulled back by more than 10 percent over the same period.
Today? Not so much.
The chipmaker said Thursday it expects revenue for the quarter will be $12.8 billion, plus or minus $300 million. Its previous expectation had been $13.7 billion, plus or minus $500 million.
After the company's announcement, the S&P was up nearly 1 percent Thursday afternoon. Intel's stock dropped 5 percent at the opening before recovering somewhat.