Intel Rebuffs JMP Warning About Haswell; ‘On Track and On Time’
By Tiernan Ray
Following a downgrade this morning of Intel (INTC) shares to Market Perform from Outperform by Alex Gauna of JMP Securities, based on speculation by Gauna that the chip maker may be at risk of delays in its forthcoming microprocessor upgrade, code-named “Haswell, Intel spokesperson Chuck Mulloy reached out to tech trader to assert there are no issues.
Said Mulloy in a phone call,
Haswell is healthy and on track for an announcement. There’s no problem with the Haswell part at all. Also, we would expect that with Haswell we will see the biggest improvement in battery life in the company’s history when you compare it to the previous generation. It is expected to be a major milestone breakthrough. The key point is, it’s healthy and it’s on time.
Malloy was referring to previous remarks about Haswell made by management during the company’s January Q4 conference call. At that time, the company said “We started production on Haswell, which we expect to qualify for sale this quarter [Q1] [...] This resulted in an increase in inventory write-offs [in Q4]. We expect to be production-ready in the current quarter.”
The remark about record improvements in power efficiency were consistent with previous promises by Intel regarding Haswell, said Malloy.
I think Intel investors should prepare themselves for a lot more of this nonsense the closer we get to the earnings release. Haswell is not only not going to be delayed but is ahead of schedule. No question this is pure analyst manipulation.
Well done Intel! That was a prompt rebuttal to the JMP Securities analyst Alex Gauna who claimed Intel had problems with Haswell's power management and performance and that Haswell could get delayed. Gauna and JMP Securities are completely debunked by Intel who says everything is good and they are production-ready this quarter.
The ARM camp must feel the pressure bearing down on them to pull stuff like this.
It did not expect Intel to respond -
this is going to be an interesting CC
the analysts can say whatever they want - it's a "rumor"
other hedge funds might have been informed about the call.
An issue about USB 3 came up several weeks ago and as I recall Marsavian responed to it