This was a big quarter for Intel, no matter how you slice. But while shares soared the moment this earnings news crossed the wires, as they did last quarter, they quickly settled back. Again.
As Wall Street worries about computer industry sluggishness. Again. Even though Intel isn't seeing that. Again.
Intel beat handily on the topline, and surged past expectations on the bottomline: 28 cents instead of the 25 cents Wall Street expected.
Gross margins also looked good: About 55 percent for last quarter, 58 percent for the current quarter, and 57 percent for the full year. All more than respectable, when you consider all the worries floating around about a global PC industry slowdown.
Just not happening according to Intel Chief Financial Officer Stacy Smith, who spoke to me soon after those numbers were released. (Look for the complete interview to post here shortly.)