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Tech Check
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Intel CEO Paul Otellini took the stage at the company's analyst meeting today and immediately made news: So far so good.
By way of background, Otellini made headlines a few weeks ago when the company announced its first quarter earnings with the bold statement that the chip industry had bottomed.
It was bold since Intel [INTC
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] is the world's largest chipmaker, and independent market research suggested otherwise.
On his way into the meeting, he stopped by our broadcast position and I asked him whether he planned to reiterate his outlook. Absolutely, he said.
But once on stage, he went a step further: "Looking at order patterns, billings patterns, it's a little better than expected."
This quarter is incredibly dependent on the month of June, he said, but "so far so good."
New market research out this morning from IDC speaks to Otellini's prognosis, indicating that the industry is still in decline, but not declining nearly as fast from Q4 to Q1 as it did from Q3 to Q4.
Additionally, there are 800 million desktop computers and 40 percent are more than 3 years old. And as the industry evolves from "big, boring and beige," the opportunities are "huge," says Otellini.
Otellini's comments instantly reversed today's losses in after-market trading.
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes