Fast Money First: Intel CFO Andy Bryant
In a Fast Money First, CNBC’s Jim Goldman talks with Intel CFO, Andy Bryant immediately following the company’s quarterly earnings report.
Tell me about your earnings?
“We had 16% quarter to quarter revenue growth in Q3,” says Bryant. “That’s actually the largest percentage growth we’ve seen in a quarter in 10 years.
He adds, “We see continued growth into Q4 and no evidence of inventory build up. What we’re seeing is very strong worldwide demand, possibly more in Asia and Europe than we see in the US but it’s still good demand in the US as well.”
Is it a one quarter kind of wonder?
“If you look at most of the outside marketing services they’ll tell you (they estimate Intel will have) double digit growth next year. If you look at what we’re saying, it’s a little better than what anybody expected,” says Bryant.
He adds, “I think it’s going to come down to, will the world-wide economy stay healthy? Now Europe is very healthy and Asia is very healthy. The US -- we’re watching which way it goes-- but it feels like a pretty good place to be, right now.”
Pete Najarian says he’s very impressed with the chip sector, overall and Intel’s earnings have raised the bar.
Guy Adami thinks Dell (DELL) is a buy on the news.
Jeff Macke recommends getting long Microsoft (MSFT).
Pete Najarian prefers Apple (AAPL).
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Trader disclosure: On Oct 16, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (INTC) (SWY), Najarian Owns (DISH), (GOOG), (UA); Najarian Owns (IBM) Options ;Najarian Is Short (PNC); Finerman Owns (GS), (C); Finerman's Firm And Finerman Own (KFT); Finerman's Firm Owns (LTD), (NMX), (NYX), (VCLK), (JNJ), (MO), (MSFT), (COP), (BIIB) Finerman's Firm Is Short (WFC); Finerman's Firm Owns S&P 500 Index Puts; Finerman's Firm Owns Russell 2000 Index Puts; Finerman's Firm And Finerman Own (FLS)