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Intel Corporation Message Board

  • wallisweaver wallisweaver Jan 18, 2013 2:12 AM Flag

    Hilarious: Stacy Smith Slaps Down the Idiot from Sanford Bernstein

    Stacy Rasgon - Sanford Bernstein
    Hi, guys. Thanks for taking my question. It sounds to me like you are guiding traditional PCs down a ton this year and yet you seem to making a very big bet on revenue growth in to 2014 because it seems like this flood of CapEx doesn’t really start getting depreciated until then. So how much do you need to take, in terms of share within tablets or how much of that tablet market needs to be eaten up by your convertible PCs in order to fill that big bet in 2014 that you seem to be making and avoid the underutilization that may otherwise happen from the CapEx that you are spending?

    Stacy Smith - Chief Financial Officer, Executive Vice President
    I take issue with the characterization of guiding PCs down a ton and then some big snap back.

    [Analyst makes the big mistake of trying what he does in print but in person.]

    Stacy Rasgon - Sanford Bernstein
    But you said revenues were up of 2% with data center up in the double digits and phones and tablets ramping, which implies that the core PC business is down.

    [Idiot analyst thinks he can slip by converting "core PC business is down" to "you are guiding traditional PCs down a ton". And he's even wrong on the first part and gets b-slapped for it...]

    Stacy Smith - Chief Financial Officer, Executive Vice President
    No, so I said for the company its low single-digits in terms of our expected revenue growth, data center up and back into the double digits. You still end up with client growth when you go through that and I think the point that Paul was making earlier was a really important one which was the lines between a traditional notebook, a convertible, a tablet have blurred to the point that it’s a market for computing and we are expecting some unit, now Q1 we think is seasonally down.

    That’s what we guided but when we get into the back half and you have a combination of new products in the market and an improving macroeconomic environment I think that’s a fairly reasonable assumption on the year.

    As we think, into the future, we think of it as just more or less normal growth, consistent with what we have historically seen, from a unit standpoint. It's just growth across a much wider range of devices than what we have historically supported. You want me to add anything to that?

    [I love that last remark: "You want me to add anything to that?" Or you want me to mop the floor with you some more??? Laugh out loud funny...]

    Sentiment: Strong Buy

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