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Intel<\/a> Corp said on Thursday it expects to lose money in the current quarter, surprising investors with a bleaker-than-expected outlook for both the PC market and slowing growth in its key data center division.
The company's shares fell 9.5% in trading after the bell.
\"We stumbled, right, we lost share, we lost momentum. We think that stabilizes this year,\" Chief Executive Pat Gelsinger<\/a> told investors on a conference call. He said Intel<\/a> has been losing market share in the data center market, a nod at the strength of rival Advanced Micro Devices<\/a>
Two of Intel's most important markets are showing weakness after two years of strong growth as remote work boomed during the pandemic. Now, the PC industry is struggling with a glut of chips after demand for consumer electronics fell off a cliff and business customers wary of a recession are slowing spending on data centers.
Gelsinger told Reuters that customers also were emptying inventory.
\"We expect some of the largest inventory corrections literally that we've ever seen in the industry taking place that's affecting the Q1 guide in a meaningful way,\" he said.
\"Everything hinges on the PC market recovery. AMD isn't immune to this either,\" said Wayne Lam, an analyst at CCS Insight. \"Don't think we've seen the bottom for INTC...They are not running a sustainable business model.\"
Intel expects profit margins to fall further after dropping from 58.4% in the fourth quarter of 2020 to 43.8% in the fourth quarter of 2022. \"Its safe to say that ambitions to return to a 60% margin in the future is light years away,\" said CFRA Research analyst Angelo Zino.
Intel reiterated its medium-term goal of 51-53% gross margin, and 54-58% longer term.
Shares of other microchip companies fell as well, with AMD down 2.6% and Nvidia Corp<\/a> down 2%.
PC shipments fell 16.5% to 292.3 million units in 2022, per data from research firm IDC, forcing chipmakers to cut back production and slash revenue forecasts.
Shrinking PC demand also pressured Microsoft Corp's More Personal Computing<\/a> segment, which includes Windows<\/a>, devices<\/a> and search revenue, leading to a 19% drop in the segment in its second quarter.
Meanwhile, the data center market has also slowed from double-digit growth as businesses cut costs to ride out an economic slowdown.
After Gelsinger returned to the company nearly two years ago, Intel has focused on regaining the lead in chipmaking technology. Outsourcing the chipmaking process has helped rivals like AMD make much smaller and faster chips and outpace Intel's technology.
The company forecast first-quarter revenue in the range of about $10.5 billion to $11.5 billion. Analysts on average were expecting total revenue of $13.93 billion, according to Refinitiv data.
The company expects an adjusted loss of 15 cents per share versus expectations of a 24 cents per share profit.
Revenue in the fourth quarter fell 32% to $14 billion. Analysts on average expected revenue of $14.46 billion.
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英特尔“偶然”,首席执行官说;股票下降9.5%,损失预测
“我们发现,我们失去了,我们失去了动力。今年我们认为稳定,”首席执行官Pat Gelsinger在电话会议上告诉投资者。他说,英特尔一直在失去市场份额数据中心市场,点头在竞争对手amd的力量
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英特尔公司周四表示,它预计当前季度亏损,令人惊讶的投资者bleaker-than-expected PC市场和经济增长放缓的前景的关键数据中心部门。
该公司的股价下跌9.5%后门铃。
“我们发现,我们失去了,我们失去了动力。今年我们认为稳定,”首席执行官Pat Gelsinger在电话会议上告诉投资者。他说英特尔一直在失去市场份额数据中心市场,点头在对手的力量吗高级微设备
英特尔的两个最重要的市场也显示出疲软经过两年的强劲增长为流感大流行期间远程工作蓬勃发展。现在,个人电脑行业正努力应对大量的芯片在消费电子产品的需求跌落悬崖和商业客户担心经济衰退正在放缓支出数据中心。
基辛格告诉路透,客户也清空库存。
“我们预计的一些最大的库存修正从字面上,我们见过的行业发生影响Q1指南以一种有意义的方式,”他说。
“一切都取决于个人电脑市场复苏。AMD不免疫,”Wayne Lam说,CCS Insight分析师。“不要认为我们看到底部intel……他们不是运行一个可持续的商业模式。”
英特尔预计利润率将进一步下跌后从2020年第四季度的58.4%下降到2022年第四季度的43.8%。”其安全说野心回到60%的保证金在未来光年,“CFRA Research分析师安吉洛Zino说。
英特尔重申了中期目标51 - 53%的毛利率,长期和54 - 58%。
其他芯片公司股价下跌,AMD和下降了2.6%英伟达公司下降了2%。
PC出货量下降了16.5%,至2.923亿辆,2022年每研究公司IDC的数据,迫使芯片制造商减产,削减收入预测。
个人电脑需求萎缩也迫使微软(msft . o:行情)的更多个人电脑段,包括窗户,设备和搜索收入,导致部分的第二季度下降19%。
与此同时,数据中心市场也从两位数增长放缓,企业削减成本以安然度过经济放缓。
基辛格回到公司后将近两年前,英特尔一直专注于重获领先制造技术。外包已经帮助竞争对手AMD晶片制造的过程使更小、更快的芯片和超过英特尔的技术。
该公司预计第一季度营收约105亿美元到115亿美元的范围。分析师平均预计总收入为139.3亿美元,据Refinitiv数据。
公司预计调整后的每股15美分和损失的预期每股24美分的利润。
在第四季度营收下降32%至140亿美元。分析师平均预计营收为144.6亿美元。
