Thank you John,
As I said to Fred your comments are most appreciated.
Relative to your comments, that it appeared that Intel "went out of its way NOT to meet estimates", I also had the same feeling. Although, I did not think, as you did, that Intel was uncooperative with analysts during the conference call, they did seem to go out of their way to underplay expectations going forward. Perhaps they wanted to build in a cushion for themselves in Q4, or maybe they want to maintain a low profile for competitors and the FTC over the near term, but for sure it would have been easy for Intel to meet, or beat, analysts expectations.
As for your comments relative to the lowering of inventory and the reduction of average-day-sales outstanding boding well for Intel going forward.. Yes this is true, however, my point was that 4 days of shipments were taken out of Intel's Q3 as OEM's worked off their existing inventory. Having accomplished this reduction last quarter, Intel should now be able to reap the benefits in future quarters. In no way did I interpret the reduction of inventory as a slowing of orders.
Regards,
Jules |
