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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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    • I'm still laughing about how Stacy slapped this guy down. My favorite moment from the call.

      These analysts so totally don't know anything about dynamics in the processor business. I saw the #$%$ from FBR on video this morning. None of these guys can even spell f-a-b-r-i-c-a-t-i-o-n.

      Nor do they understand depreciation or Capex. Do these guys have to pass anything other than a snort test to get hired?

      Sentiment: Strong Buy

    • another_margin_call_2012 another_margin_call_2012 Jan 18, 2013 8:35 AM Flag

      mildly entertaining certainly not lol...certainly won't make up for my $2K loss in pre-mkt
      looks like a brutal day ahead hope I'm wrong

    • Hilarious: the great pumper and buffoon Wallisweaver stayed up all night touting INTC while denigrating its detractors. Hilarious: read up Wallis past predictions. But you know what? Wallis eternal "strong buy" on INTC will soon have merit.

    • Yes, I caught that whole conversation too. The analyst tries to exaggerate in a negative way by saying "guiding down a ton" when all Intel was trying to do was say that PC sales would slow like they normally do in the quarter after Christmas. No analyst but an idiot would expect anything different than that.

      Sentiment: Buy

    • that is a really good point,... trying out in public what he can do (as a hatchet job) in print.

    • I think that what it points to is that there is uncertainty going forward, the analyst is somewhat concerned/skeptical and has a right to be at this point.

      When you're turning in really great numbers you get "Congrats on the great quarter guys" and softball questions. When your EPS is off 25% y-o-y even after buying back 191 million shares, and the bar has been lowered so far that they enable you to beat earnings estimates with a weak showing, you're going to get some pointed questions, negative assumptions are going to be made, and you're going to be put on the spot and asked about things you might not be happy about.

 
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