Intel CEO warns first loss in 22 years is possible in Q1

[dattimr]

http://www.fudzilla.com/index.php?option=com_content&task=view&id=11597&Itemid=1

Intel CEO Paul Otellini told his employees that the chipmaker could incur ins first quarterly loss in 22 year in Q1.

According to Bloomberg and the Wall Street Journal, Otellini said the first quarter will be too close to call due to the industry-wide slowdown. He reportedly made the comments in a Q&A session with Intel employees.

Otellini claims the company will focus on saving every nickel, and that there will be no merit pay or promotions.

Recently, Intel reported a 90 percent profit drop in Q4 and a 23 percent decline in revenue.

Worse times for Intel, worst times for AMD. On the other news, IBM's Q4 is up 12% over last year.

 

[jimmysmitty]

^Thats because IBM deals in software mainly and has more in investing so they don't get hit as hard.

 

[dattimr]

Yes, they have been quite smart and well aware as of lately. That's a lot of "sight" from their management, if you ask me. The competition versus Intel would be formidable, if they found a workaround for the x86 licence and, possibly, bought AMD. But the situation is looking dramatic for the chipmakers. AMD results propably won't be that pretty. On the other news also, AIBs have cancelled the orders for something like 1.2 millions of Nvidia GPUs because of high stock and market situation.

 

[kirvinb]

Looks like no one can escape this economy