This guy obviously has not followed Intel guidance relative to actual earnings for the past 3 years. I'm looking at the guidance downward revision with $13.7 Billion being the midpoint. Intel said there is higher demand on computers. That it was only a supply issue. At the same time, Intel is holding all of its chip prices strong. So for that reason is why I think Intel will at least come in near the high end of their latest revision. As for the Q1 guidance, I think demand will remain strong. Those who did not buy in Q4 will need it more in Q1. Plus, the hard drive issue will not be much different than Q4.
Hard drive issue is BS - a pathetic excuse. Demand for PCs is fading quickly despite what Intel may say (I believe Gartner over Intel). Q4 was a horrible quarter for PCs. Intel oversupplied the channels and that's why they have lower demand. It will take 2-3 quarters to work through that oversupply.
I didn't even mention the 10 decline in the Euro, which reduces revenues by 5% and EPS by 10%.