The difference is:
TSMC spends on capex it's good - when Intel spends on capex it's bad - WS goes even further deliberating misinterpreting Intel 's additional $2billion increase announced last January.
Some WS analyts create the perception (just like semiconductor guy did a couple days ago) that it would be used to get additional capacity which is not true at all because this money is dedicated to future 450mm.
But "investors" seemed to buy WS story - what can Intel do?
If the "investors" are not capable to read the transcript...what can you do?
when TSMC margins take hit because of potential Apple business it's good
when Intel margins would go down due to (potential) additional Apple business it's bad
Goldman Sucks upgraded TSMC because of potential Apple business - at the same time Covello trashed Intel for (eventually) taking Apple business
There is NO logic -
all the ARM foundries are racing to catch up with Intel manufacturing while WS values Intel manufacturing capabilities @ zero.
The article (referenced by 61) which was missing the statement about Intel low power server is perfect example to create (misleading) perception.
One of the most difficult things is to overcome perceptions.
SoC is a different ball game but I don't see any reason why Intel can't catch up
When East says the sky is green the analysts will put it in the news and write the sky is green and all the readers will believe it
You hit the nail on the head when you said perception is reality. INTC doesn't have a PR dept to spin anything. Paul is so anti press, he dropped mid qtr cc's because he didn't want to deal with it. Look at HPQ cc and they are up 20% in 2 days. INTC did better than them and were down 20%. We have a 6 billion dollar buy back program that were paying interest the bonds and not buying back the stock.