Bloomberg Businessweek Instant Reaction: Intel and Apple Earnings Results
Oct 31, 2024
Ed Ludlow, co-host of Bloomberg Technology, shares his insights on the recent earnings reports from Intel and Apple. Intel's stock soared after an optimistic revenue forecast, showcasing its efforts to regain market share against competitors. In contrast, Apple is facing disappointing sales in China, raising concerns despite meeting overall revenue expectations. The discussion touches on competitive pressures for Intel and the impact of consumer behavior on Apple, highlighting the evolving dynamics in the tech sector.
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Intel's Stock Surge
- Intel's shares surged after a better-than-expected fourth-quarter revenue forecast.
- This sparked optimism about the company regaining market share after a 60% drop.
Intel's Mixed Performance
- Intel's data center chip business performed better than expected, while the PC business lagged.
- This is attributed to customers working through existing inventory backlogs.
Intel's Future Strategy
- Intel CEO, Pat Gelsinger, confirmed the company will remain integrated.
- The company will operate in two distinct divisions, focusing on both product development and manufacturing.