http://www.intc.com/releasedetail.cfm?ReleaseID=570227&ReleasesType=Financial%20News
Omsætning stiger 25 pct sammenlignet med samme kvartal sidste år. EPS 30 pct.
Omsætning stiger 25 pct sammenlignet med samme kvartal sidste år. EPS 30 pct.
20/4 2011 00:56 le 0
41478 IBM earnings up 10 percent, helped by weak dollar
IBM earnings up 10 percent, helped by weak dollar, hardware sales
tweet24EmailPrint..Companies:International Business Machines Corp..
A scientist uses IBM's Blue Gene Supercomputer at the IBM Alamden Research Center in San Jose, Calif., Monday, April 18, 2011. The Supercomputer is used for research on gene sequencing and cognitive analytics. IBM Corp. reports quarterly financial earnings Tuesday, April 19, 2011, after the market close.(AP Photo/Paul Sakuma)
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IBM 165.40 -0.54
{"s" : "ibm","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Peter Svensson, AP Technology Writer, On Tuesday April 19, 2011, 7:18 pm
NEW YORK (AP) -- IBM Corp. on Tuesday reported stronger-than-expected net income and revenue for the first quarter, helped by the weak dollar and strong performance from its hardware division.
The computer and consulting-services company also raised its full-year forecast for operating earnings by 1 percent. However, the stock retreated, possibly in reaction to a decline in new contract signings in the outsourcing business.
Net income rose 10 percent to $2.86 billion, or $2.31 per share. In the year-ago period, IBM earned $2.6 billion, or $1.97 per share.
Excluding mostly acquisition-related charges, earnings were $2.41 per share, beating the average analyst estimate as polled by FactSet of $2.29.
Revenue rose 8 percent to $24.6 billion. The increase would have been 5 percent at constant currency rates. Analysts expected $24.02 billion, or about a 3 percent increase at constant currencies, IBM said.
IBM said it expects full-year operating earnings of "at least" $13.15 per share, up from an earlier forecast of $13. Its goal for 2015 is to boost that to $20 per share, and it says it's well on its way to getting there.
In extended trading, after the release of the results, IBM shares were down $3.41, or 2 percent, at $161.99. The shares are close still to their all-time high of $167.72, hit March 9.
Analyst Toni Sacconaghi at Sanford Bernstein noted on a conference call that service contract signings were down 18 percent compared to last year, surprising him.
IBM Chief Financial Officer Mark Loughridge said it was natural for the signings to be down after a strong fourth quarter, and the signings are, in any case, a volatile measure that doesn't directly predict service revenue.
Bob Djurdjevic, an analyst with Annex Research, agreed, calling the overall results "significantly better than expected."
Investors had been fearing that the economic disruption in Japan after the earthquake could have affected IBM, Djurdjevic said, and should be relieved that the impact was minimal. That demonstrates that IBM, because of its globe-spanning reach, isn't dependent on any one market or product, he said. IBM's revenue from China rose 33 percent, and Russia was even stronger, at 53 percent.
"When one part fails, another part more than makes up for it," Djurdjevic said.
The U.S. and Asia, excluding Japan, were the strongest markets, with Europe and Japan lagging.
Hardware sales did particularly well, rising 16 percent at constant-currency rates from last year. The new System Z mainframe, which extends a four-decade old line, was the best performer, with sales up 38 percent.
Hardware accounts for 16 percent of IBM's revenue but little of its pretax profits. Its consulting and outsourcing businesses, which account for more than half of revenue were more sluggish, with revenue rising just 3 percent in constant-currency rates. However, they expanded their profit margins
IBM earnings up 10 percent, helped by weak dollar, hardware sales
tweet24EmailPrint..Companies:International Business Machines Corp..
A scientist uses IBM's Blue Gene Supercomputer at the IBM Alamden Research Center in San Jose, Calif., Monday, April 18, 2011. The Supercomputer is used for research on gene sequencing and cognitive analytics. IBM Corp. reports quarterly financial earnings Tuesday, April 19, 2011, after the market close.(AP Photo/Paul Sakuma)
Related Quotes
Symbol Price Change
IBM 165.40 -0.54
{"s" : "ibm","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} Peter Svensson, AP Technology Writer, On Tuesday April 19, 2011, 7:18 pm
NEW YORK (AP) -- IBM Corp. on Tuesday reported stronger-than-expected net income and revenue for the first quarter, helped by the weak dollar and strong performance from its hardware division.
The computer and consulting-services company also raised its full-year forecast for operating earnings by 1 percent. However, the stock retreated, possibly in reaction to a decline in new contract signings in the outsourcing business.
Net income rose 10 percent to $2.86 billion, or $2.31 per share. In the year-ago period, IBM earned $2.6 billion, or $1.97 per share.
Excluding mostly acquisition-related charges, earnings were $2.41 per share, beating the average analyst estimate as polled by FactSet of $2.29.
Revenue rose 8 percent to $24.6 billion. The increase would have been 5 percent at constant currency rates. Analysts expected $24.02 billion, or about a 3 percent increase at constant currencies, IBM said.
IBM said it expects full-year operating earnings of "at least" $13.15 per share, up from an earlier forecast of $13. Its goal for 2015 is to boost that to $20 per share, and it says it's well on its way to getting there.
In extended trading, after the release of the results, IBM shares were down $3.41, or 2 percent, at $161.99. The shares are close still to their all-time high of $167.72, hit March 9.
Analyst Toni Sacconaghi at Sanford Bernstein noted on a conference call that service contract signings were down 18 percent compared to last year, surprising him.
IBM Chief Financial Officer Mark Loughridge said it was natural for the signings to be down after a strong fourth quarter, and the signings are, in any case, a volatile measure that doesn't directly predict service revenue.
Bob Djurdjevic, an analyst with Annex Research, agreed, calling the overall results "significantly better than expected."
Investors had been fearing that the economic disruption in Japan after the earthquake could have affected IBM, Djurdjevic said, and should be relieved that the impact was minimal. That demonstrates that IBM, because of its globe-spanning reach, isn't dependent on any one market or product, he said. IBM's revenue from China rose 33 percent, and Russia was even stronger, at 53 percent.
"When one part fails, another part more than makes up for it," Djurdjevic said.
The U.S. and Asia, excluding Japan, were the strongest markets, with Europe and Japan lagging.
Hardware sales did particularly well, rising 16 percent at constant-currency rates from last year. The new System Z mainframe, which extends a four-decade old line, was the best performer, with sales up 38 percent.
Hardware accounts for 16 percent of IBM's revenue but little of its pretax profits. Its consulting and outsourcing businesses, which account for more than half of revenue were more sluggish, with revenue rising just 3 percent in constant-currency rates. However, they expanded their profit margins
20/4 2011 01:49 le 041480 det er virkeligt interessant at se hvordan de store markedsanalyseinstitutter, gartner og IDC, har taget fejl af PC markedet pga væksten i emerging markets som de netop ikke kan finde ud af at måle
jeg havde set at man havde fortaæt at PC salget ikke var vokset i 11 1q så sent som for få dage siden og jeg kunne heller ikke forstå det og nu kommer intel så og gør grin med dem og siger at de ikke har forstand på at måle markedet for PC'er
intel er jo den eneste, der følger hele markedet med deres ca 80% i markedsandel og argumentationen om at tablets og smartphones skulle have dæmpet væksten for PC salget var altså forkert og tablet og smartphones øger tværtimod det samlede salg af PC+tab lets+smartphones og hvad man ellers har af e-books mm
det betyder så også at den lagerreduktion, der også har været og stadig er på elektronik området pga japans ulykker vil betyde at opsvinget i elektronik sektoren i 11 2h når opbygningen af lagre til jul starter bliver stærk fordi lagrene skal genopbygges sammtidig emd en underiggende høj vækst i markedet og så sæsonopgangen pga julehandelen, der starter i august
dermed er der en stor chance for et boom igen i aktierne i semi eq sektoren til den tid og sikkert allerede nu, hvor både intel og samsung jo har bebudet en markant yderligere stigning i investeringerne i semi eq i 2011
Otellini: PC Makers Are Buying Plenty Of Our Chips, Thanks
by Arik Hesseldahl
Posted on April 19, 2011 at 2:38 PM PT
SharePrint Intel proved its mettle in its quarterly results, easily outdistancing the muted expectations of the market, then took a bit of a victory lap during its conference call with analysts.
Intel CEO Paul Otellini criticized third party research firms - he didn't mention any names, but he was talking about Gartner and IDC - for giving the idea that the PC industry is on the wane, when their information isn't as complete as Intel's is, especially in emerging markets.
While they're forecasting the market to grow in the single-digit range this year, Intel sees the PC market growing in the low-double-digit range, Otellini said, and he expects it to continue into 2012. "I want to be clear that our views differ from some of theirs," he said. The PC market is getting more complex and at nearly 400 million units sold per year, it's bigger than it's ever been. The research firms don't see as much data as Intel sees. "While some channels, like PCs sold through consumer retail outlets in mature markets have deep visibility, other channels especially in emerging markets are not well-reflected," in the forecasts from the research firms.
I wonder what Gartner and IDC are going to say in response to that? It seems Otellini has just called their research methods worthless.
Otellini also talked about a forthcoming announcement in May around manufacturing process technology. Having sold its first 32-nanometer processors at the start of last year, it's time to start thinking seriously about the move to the next manufacturing node, and also the one beyond that. The next is 22 nanometers, and the one beyond that is 14, which should hit the market about 2013 or so. Intel says its going to spend between $9.8 billion and $10.6 billion in fiscal 2011 on capital expenditures as part of bringing up the new technology and another $15.7 billion in combined research and development plus management and general costs.
Otellini and CFO Stacy Smith both talked about the implications of that shift, and both talked about some big announcements around process technology coming in May. "What we're realizing is that competitive advantage is becoming very important," CFO Stacy Smith said. "We're getting paid both for differentiating, and in terms of pricing." Pressing the manufacturing nodes forward - which is something Intel does better than anyone else in the world, will indeed give it an advantage not only over its distant rival Advanced Micro Devices in the PC world, but also give it a better chance of combating the persistent competitive threat from ARM chips, that not only rule the world so far in smart phones and tablet, but which are starting to show up in mobile PC roadmaps.
Otellini said while demand for PCs among consumers in the US and Western Europe remained soft, but were strong in emerging markets. Demand for servers - the big surprise of the day - and PCs at business were also strong. He also said that Intel recovered quickly from the design flaw in the Sandy Bridge family of chips discovered last month. He also said that Intel sustained some damage to sales and marketing offices in Japan, but "nothing major that would hinder our ability to service our customers." He also said Intel is seeing no disruptions in its supply chain as a result of the earthquake there.
He talked at length about Intel's sales to cloud providers, calling it a "major driver" of the company's growth. Sales in the Data Center Group grew 32 percent year on year and were led Otellini said, by sales in China. Sales of Intel chips into storage systems were also strong, up 45 percent over last quarter and 65 percent year-over-year.
My liveblog from the conference call - joined just a few minutes late - is below.
2:40 pm: Joining a tad late after a technical glitch. Intel CEO Paul Otellini is talking.
Our views differ from the views of the analysts. The PC business is a global industry is 400 million units a year. Some channels, especially those in emerging markets aren't very visible to research firms. Basically he's slamming IDC and Gartner for their pessimistic views. "Our projection for 2011 remain in the low double digit range."
"We see no reason for 2102 to be materially different from what we see in 2011."
He says to expect an increase in Capex around the 22- and 14-nanometer manufacturing technology. "We see a need for more features," on chips he says.
CFO Stacy Smith is now talking.
The company fixed the Cougar Point problem - referring to the "design errors" found on a chipset accompanying the Sandy Bridge processor - and completely mitigated the revenue impact that was expected.
2:44 pm: First quarter significantly better than our expectations.
Sandy Bridge boosted average selling prices.
Acqusitions of McAfee and Infineon wireless business added about $500 million of the $2.5 billion in new revenue seen year over year.
The Cougar Point impact to gross margin was about 3 percentage points. That explains the 1 percent quarter on quarter drop on that important figure.
First quarter puts us on track to exceed financial goals for the year. Expect another year of double digit revenue and earnings growth.
We are making some critical investments in process technology that will have a very rapid ROI or return on investment.
Q&A is getting started.
2:48 pm: Glenn Yeung from Citi: Help us understand the emerging markets and growth seen there.
Smith: Emerging markets are well over 50% of business. The dynamic is one of economics. Desirability of the technology is high and affordability is high. The price point of a PC is within 1-2 months of income. Penetration rates are so far pretty low.
Otellini: My comment on the channel strength for Sandy Bridge is emerging markets. Most of the machines sold with Sandy Bridge are white boxes in emerging markets. Those markets are still surging in terms of notebooks.
2:50 pm: Yeung with a follow-up. He's asking about the investment in process technology. Otellini used the word "revolutionary" to describe the 22-nanometer leap that's coming. He's asking him to shed some light on what he means by that.
Smith: The Capex number is driven by a few things. Unit growth and ability to meet demand at 22 nanometer and 14 nanometer technology. It give us performance cost and power efficiency advantages. The biggest single chunk of the Capex, is with the development fab for 14 nanometer, we're going to make that fab bigger. That will allow us to more products to 14 nanometer technology and ramp it faster.
Otellini: On the process technology, only a teaser today. We'll be disclosing that technology in early May. When you hear that announcement you'll understand why that phrase is appropriate.
2:52 pm: Question about how we should think about seasonal trends in the second half of the year.
Smith: We closed McAfee and Infineon, and they added half a billion in Q1 and should add another half a billion in Q2. The second quarter is usually kind of flat compared to the first, which is in line with the pattern we've seen over the last five years. We're not seeing anything that would cause it to be any different than before. Second half tends to be about 2-3 points higher than the first in terms of revenue.
Otellini says to expect to see a lot of tablets with Intel chips demonstrated at Computex. Google's Android Honeycomb source code from will ramp over the course of the year for a number of customers.
Having lost Nokia, Otellini says "took a lot of wind out of our sails," around landing Intel chips in smart phones. Intel has redeployed resources from that. "I would be very disappointed if you didn't see Intel based phones 12 months from now."
2:56 pm: Question from BMO. For the total PC market what is the percent the third parties companies are missing?
Otellini: they are all over the map. Gartner is at 6 and IDC at 7 percent growth for the year, and we're seeing low double digit growth.
Q: What about Medfield, the phone processor. What are the metrics that are getting customers interested in it? Is it the fact that you've been able to bring it competitive with ARM chips?
Otellini: Its both. The product is very good in terms of performance, especially in media processing. And the power envelope is right where you want it to be.
2:58 pm: Question from UBS: You called out storage as up 45% within the Data Center Group. We've seen this group grow faster than we thought it was. What's the longer term growth?
Otellini: We recognize that this group has had phenomenal growth. Expect a deep dive on that at the analyst meeting and on the market for Xeon class chips today and tomorrow. (No mention of Itanium-based servers, by the way. -ed.) Traditional servers, we're out growing the market by a factor of 2-3x. We think a big piece of the market is high performance and cloud, and the conversion of other parts of the data center from proprietary to Intel-based designs, you see growth that is representative of all the growth of the Internet. We're benefiting quite well.
UBS asks about the transition from 22 nanometer to 14 nanometers. Is there anything that is driving the speed now in terms of moving to 14 nanomter and what can do at 14 versus 22 nanometers.
Smith: I'm going to punt for another few weeks. More to say around 22 nanometer and the secret sauce there, and it will carry into the 14 nanometer node.
What we're realizing is that competitive advantage is becoming very important. We're getting paid both for differentiating, and in pricing. As we get out to 22 and 14, we're going to bring capabilities to process technology more quickly than we have before. 22 nanometer will intercept with smart phones and notebooks more quickly, and we'll get paid for performance and cost over the long term.
3:03 pm: Chris Danely of JPMorgan asking about factory utilization rates. He wonders if there may be shortages coming.
Smith: We're running not too hot, and not too cold. NOt anticipating shortages. We have responisbilt to respond if demand is hotter, and if demand is less, we now have the tools to respond to both circumstances.
Danely: It seems as though perhaps some of the OEM customers have a more tempered forecast. Whats the difference.
Otellini: We won't characterize specific customers. I think those who are more enterprise centric than those who are focused on consumer markets in the US and Europe are seeing numbers closer to ours.
Smith: The elephant looks very different depending on what part you're looking at. Mature markets look tough. Emerging markets look pretty good.
3:06 pm: Question about how much Sandy Bridge accounted as a percentage of sales.
jeg havde set at man havde fortaæt at PC salget ikke var vokset i 11 1q så sent som for få dage siden og jeg kunne heller ikke forstå det og nu kommer intel så og gør grin med dem og siger at de ikke har forstand på at måle markedet for PC'er
intel er jo den eneste, der følger hele markedet med deres ca 80% i markedsandel og argumentationen om at tablets og smartphones skulle have dæmpet væksten for PC salget var altså forkert og tablet og smartphones øger tværtimod det samlede salg af PC+tab lets+smartphones og hvad man ellers har af e-books mm
det betyder så også at den lagerreduktion, der også har været og stadig er på elektronik området pga japans ulykker vil betyde at opsvinget i elektronik sektoren i 11 2h når opbygningen af lagre til jul starter bliver stærk fordi lagrene skal genopbygges sammtidig emd en underiggende høj vækst i markedet og så sæsonopgangen pga julehandelen, der starter i august
dermed er der en stor chance for et boom igen i aktierne i semi eq sektoren til den tid og sikkert allerede nu, hvor både intel og samsung jo har bebudet en markant yderligere stigning i investeringerne i semi eq i 2011
Otellini: PC Makers Are Buying Plenty Of Our Chips, Thanks
by Arik Hesseldahl
Posted on April 19, 2011 at 2:38 PM PT
SharePrint Intel proved its mettle in its quarterly results, easily outdistancing the muted expectations of the market, then took a bit of a victory lap during its conference call with analysts.
Intel CEO Paul Otellini criticized third party research firms - he didn't mention any names, but he was talking about Gartner and IDC - for giving the idea that the PC industry is on the wane, when their information isn't as complete as Intel's is, especially in emerging markets.
While they're forecasting the market to grow in the single-digit range this year, Intel sees the PC market growing in the low-double-digit range, Otellini said, and he expects it to continue into 2012. "I want to be clear that our views differ from some of theirs," he said. The PC market is getting more complex and at nearly 400 million units sold per year, it's bigger than it's ever been. The research firms don't see as much data as Intel sees. "While some channels, like PCs sold through consumer retail outlets in mature markets have deep visibility, other channels especially in emerging markets are not well-reflected," in the forecasts from the research firms.
I wonder what Gartner and IDC are going to say in response to that? It seems Otellini has just called their research methods worthless.
Otellini also talked about a forthcoming announcement in May around manufacturing process technology. Having sold its first 32-nanometer processors at the start of last year, it's time to start thinking seriously about the move to the next manufacturing node, and also the one beyond that. The next is 22 nanometers, and the one beyond that is 14, which should hit the market about 2013 or so. Intel says its going to spend between $9.8 billion and $10.6 billion in fiscal 2011 on capital expenditures as part of bringing up the new technology and another $15.7 billion in combined research and development plus management and general costs.
Otellini and CFO Stacy Smith both talked about the implications of that shift, and both talked about some big announcements around process technology coming in May. "What we're realizing is that competitive advantage is becoming very important," CFO Stacy Smith said. "We're getting paid both for differentiating, and in terms of pricing." Pressing the manufacturing nodes forward - which is something Intel does better than anyone else in the world, will indeed give it an advantage not only over its distant rival Advanced Micro Devices in the PC world, but also give it a better chance of combating the persistent competitive threat from ARM chips, that not only rule the world so far in smart phones and tablet, but which are starting to show up in mobile PC roadmaps.
Otellini said while demand for PCs among consumers in the US and Western Europe remained soft, but were strong in emerging markets. Demand for servers - the big surprise of the day - and PCs at business were also strong. He also said that Intel recovered quickly from the design flaw in the Sandy Bridge family of chips discovered last month. He also said that Intel sustained some damage to sales and marketing offices in Japan, but "nothing major that would hinder our ability to service our customers." He also said Intel is seeing no disruptions in its supply chain as a result of the earthquake there.
He talked at length about Intel's sales to cloud providers, calling it a "major driver" of the company's growth. Sales in the Data Center Group grew 32 percent year on year and were led Otellini said, by sales in China. Sales of Intel chips into storage systems were also strong, up 45 percent over last quarter and 65 percent year-over-year.
My liveblog from the conference call - joined just a few minutes late - is below.
2:40 pm: Joining a tad late after a technical glitch. Intel CEO Paul Otellini is talking.
Our views differ from the views of the analysts. The PC business is a global industry is 400 million units a year. Some channels, especially those in emerging markets aren't very visible to research firms. Basically he's slamming IDC and Gartner for their pessimistic views. "Our projection for 2011 remain in the low double digit range."
"We see no reason for 2102 to be materially different from what we see in 2011."
He says to expect an increase in Capex around the 22- and 14-nanometer manufacturing technology. "We see a need for more features," on chips he says.
CFO Stacy Smith is now talking.
The company fixed the Cougar Point problem - referring to the "design errors" found on a chipset accompanying the Sandy Bridge processor - and completely mitigated the revenue impact that was expected.
2:44 pm: First quarter significantly better than our expectations.
Sandy Bridge boosted average selling prices.
Acqusitions of McAfee and Infineon wireless business added about $500 million of the $2.5 billion in new revenue seen year over year.
The Cougar Point impact to gross margin was about 3 percentage points. That explains the 1 percent quarter on quarter drop on that important figure.
First quarter puts us on track to exceed financial goals for the year. Expect another year of double digit revenue and earnings growth.
We are making some critical investments in process technology that will have a very rapid ROI or return on investment.
Q&A is getting started.
2:48 pm: Glenn Yeung from Citi: Help us understand the emerging markets and growth seen there.
Smith: Emerging markets are well over 50% of business. The dynamic is one of economics. Desirability of the technology is high and affordability is high. The price point of a PC is within 1-2 months of income. Penetration rates are so far pretty low.
Otellini: My comment on the channel strength for Sandy Bridge is emerging markets. Most of the machines sold with Sandy Bridge are white boxes in emerging markets. Those markets are still surging in terms of notebooks.
2:50 pm: Yeung with a follow-up. He's asking about the investment in process technology. Otellini used the word "revolutionary" to describe the 22-nanometer leap that's coming. He's asking him to shed some light on what he means by that.
Smith: The Capex number is driven by a few things. Unit growth and ability to meet demand at 22 nanometer and 14 nanometer technology. It give us performance cost and power efficiency advantages. The biggest single chunk of the Capex, is with the development fab for 14 nanometer, we're going to make that fab bigger. That will allow us to more products to 14 nanometer technology and ramp it faster.
Otellini: On the process technology, only a teaser today. We'll be disclosing that technology in early May. When you hear that announcement you'll understand why that phrase is appropriate.
2:52 pm: Question about how we should think about seasonal trends in the second half of the year.
Smith: We closed McAfee and Infineon, and they added half a billion in Q1 and should add another half a billion in Q2. The second quarter is usually kind of flat compared to the first, which is in line with the pattern we've seen over the last five years. We're not seeing anything that would cause it to be any different than before. Second half tends to be about 2-3 points higher than the first in terms of revenue.
Otellini says to expect to see a lot of tablets with Intel chips demonstrated at Computex. Google's Android Honeycomb source code from will ramp over the course of the year for a number of customers.
Having lost Nokia, Otellini says "took a lot of wind out of our sails," around landing Intel chips in smart phones. Intel has redeployed resources from that. "I would be very disappointed if you didn't see Intel based phones 12 months from now."
2:56 pm: Question from BMO. For the total PC market what is the percent the third parties companies are missing?
Otellini: they are all over the map. Gartner is at 6 and IDC at 7 percent growth for the year, and we're seeing low double digit growth.
Q: What about Medfield, the phone processor. What are the metrics that are getting customers interested in it? Is it the fact that you've been able to bring it competitive with ARM chips?
Otellini: Its both. The product is very good in terms of performance, especially in media processing. And the power envelope is right where you want it to be.
2:58 pm: Question from UBS: You called out storage as up 45% within the Data Center Group. We've seen this group grow faster than we thought it was. What's the longer term growth?
Otellini: We recognize that this group has had phenomenal growth. Expect a deep dive on that at the analyst meeting and on the market for Xeon class chips today and tomorrow. (No mention of Itanium-based servers, by the way. -ed.) Traditional servers, we're out growing the market by a factor of 2-3x. We think a big piece of the market is high performance and cloud, and the conversion of other parts of the data center from proprietary to Intel-based designs, you see growth that is representative of all the growth of the Internet. We're benefiting quite well.
UBS asks about the transition from 22 nanometer to 14 nanometers. Is there anything that is driving the speed now in terms of moving to 14 nanomter and what can do at 14 versus 22 nanometers.
Smith: I'm going to punt for another few weeks. More to say around 22 nanometer and the secret sauce there, and it will carry into the 14 nanometer node.
What we're realizing is that competitive advantage is becoming very important. We're getting paid both for differentiating, and in pricing. As we get out to 22 and 14, we're going to bring capabilities to process technology more quickly than we have before. 22 nanometer will intercept with smart phones and notebooks more quickly, and we'll get paid for performance and cost over the long term.
3:03 pm: Chris Danely of JPMorgan asking about factory utilization rates. He wonders if there may be shortages coming.
Smith: We're running not too hot, and not too cold. NOt anticipating shortages. We have responisbilt to respond if demand is hotter, and if demand is less, we now have the tools to respond to both circumstances.
Danely: It seems as though perhaps some of the OEM customers have a more tempered forecast. Whats the difference.
Otellini: We won't characterize specific customers. I think those who are more enterprise centric than those who are focused on consumer markets in the US and Europe are seeing numbers closer to ours.
Smith: The elephant looks very different depending on what part you're looking at. Mature markets look tough. Emerging markets look pretty good.
3:06 pm: Question about how much Sandy Bridge accounted as a percentage of sales.
ps - mange semi eq aktier har PE værdier på 5-10 og er dermed ekstremt billige trods de store stigninger siden sommeren 2009
20/4 2011 03:59 le 041484 Dollars Flow Back Into Tech
IBM and Intel See Surge in Earnings as Businesses Spend Big on Hardware.Article Comments more in Earnings ».EmailPrintSave This ↓ More.
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Two of the world's largest technology vendors surprised Wall Street by posting surging sales and profits in the first-quarter, and signaled brighter days ahead.
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Bloomberg News
An IBM researcher works at a company lab in December. IBM saw sales rise 7.7% in the first quarter.
.International Business Machines Corp. and Intel Corp. both saw a big boost in spending from businesses, especially on servers and machines used in corporate data centers.
IBM logged the highest revenue growth the company has seen in 10 years, adjusting for currency fluctuations. Its quarterly revenue rose 7.7%, as demand for a new mainframe computer lifted hardware sales 19%.
Intel had a strong quarter, including a 34% jump in profit and revenue growth of 25%. The company benefited from sales of chips used in server systems and other hardware for computer rooms, and revenue rose 32% in that business.
But Intel sales also rose 17% for chips used in personal computers, contradicting estimates by two market research firms last week and a perception that sales of Apple Inc.'s iPad are sapping demand for notebook machines.
"Notebooks are very good," said Paul Otellini, Intel's chief executive, in an interview. While there was some weakness in retail sales in the U.S. and Europe, he said, that shortfall was "more than offset" by better-than-expected results from business and consumer customers in other emerging markets, which include China and Brazil.
Shares of Intel jumped 4.9% to $20.84 in late trading, while IBM shares fell 2.4% to $161.47.
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.Demand from enterprises was bolstered by comments by corporate technology chiefs, who said they are increasing their focus on mobile products and Web-based services.
Monte E. Ford, chief information officer of AMR Corp., parent of American Airlines, said most of the company's tech spending has gone towards building services that help employees and customers, such as its wireless applications for smartphones and tablets.
"The consumer is dictating where we go and what we are doing," said Mr. Ford, noting AMR's overall budget was similar to last year.
Sales continue to surge for smartphones and gadgets from Apple Inc., which is expected to report a revenue leap of nearly 73% on Wednesday. Chips from Intel and disk drives from Seagate Technology-which Tuesday reported an 82% drop in quarterly earnings-haven't been used much in such products.
But sales of large computers, including the server systems that run websites and other corporate functions, are seeing solid demand as companies set up or expand online applications.
More
Heard on the Street: Premature Party for Intel
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Yahoo Continues to Face Uphill Climb
.IBM's first-quarter profit rose 10% to $2.86 billion as revenue reached $24.6 billion, up from $22.86 billion. While its services and software businesses increased, the company saw the biggest revenue growth in its hardware group.
The Armonk, N.Y., company said that its four growth initiatives-cloud computing, business analytics, emerging markets and infrastructure upgrades-continued to gain momentum. For example, the company said revenue in markets such as Brazil and India rose 18%. "Our key growth plays had fantastic performance," said IBM chief financial officer Mark Loughridge on a conference call.
Daniel Flax, chief information officer of TheStreet.com Inc., said the company is purchasing smartphones and tablet computers for its workers. For the first time it is also working with IBM Global Services, which will help build a wireless network for the company's office.
"Our mobile efforts are seeing the biggest spend," said Mr. Flax, noting the website publisher would raise its technology budget this year by around 5%.
But the tide is not lifting all boats equally. The business technology market is increasingly bifurcating into a set of leaders and laggards, with much of the revenue growth flowing to companies benefiting from mobile products and cloud computing.
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.Bucking concerns about its limited role in smartphones and tablets, Intel reported earnings for the quarter ended April 2 of $3.16 billion, up from $2.44 billion a year ago. Revenue rose to $12.85 billion from $10.3 billion.
Intel's surprisingly strong results could fuel further debate about the health of the PC sector, and the potential impact of tablets on the industry. International Data Corp. last week said global PC shipments fell 3.2% in the first quarter, while Gartner Inc. reported a 1.1% drop; both firms previously had forecast slight growth for the quarter.
Intel's Mr. Otellini said computer makers ordered heavily, timing their purchases to take advantage of new Intel chip models-and predicted companies would start upgrading their PCs to use the technology.
"We are still in the early phase of an enterprise upgrade cycle," said Mr. Otellini, who predicted PC industry unit growth in "low double-digit" percentages for all of 2011.
But some analysts see a more disruptive impact from tablets; Goldman Sachs estimated Tuesday that tablets could cannibalize 35% of PC sales in 2011, since many laptops are used mainly to consume content.
IBM and Intel See Surge in Earnings as Businesses Spend Big on Hardware.Article Comments more in Earnings ».EmailPrintSave This ↓ More.
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Two of the world's largest technology vendors surprised Wall Street by posting surging sales and profits in the first-quarter, and signaled brighter days ahead.
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Bloomberg News
An IBM researcher works at a company lab in December. IBM saw sales rise 7.7% in the first quarter.
.International Business Machines Corp. and Intel Corp. both saw a big boost in spending from businesses, especially on servers and machines used in corporate data centers.
IBM logged the highest revenue growth the company has seen in 10 years, adjusting for currency fluctuations. Its quarterly revenue rose 7.7%, as demand for a new mainframe computer lifted hardware sales 19%.
Intel had a strong quarter, including a 34% jump in profit and revenue growth of 25%. The company benefited from sales of chips used in server systems and other hardware for computer rooms, and revenue rose 32% in that business.
But Intel sales also rose 17% for chips used in personal computers, contradicting estimates by two market research firms last week and a perception that sales of Apple Inc.'s iPad are sapping demand for notebook machines.
"Notebooks are very good," said Paul Otellini, Intel's chief executive, in an interview. While there was some weakness in retail sales in the U.S. and Europe, he said, that shortfall was "more than offset" by better-than-expected results from business and consumer customers in other emerging markets, which include China and Brazil.
Shares of Intel jumped 4.9% to $20.84 in late trading, while IBM shares fell 2.4% to $161.47.
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.Demand from enterprises was bolstered by comments by corporate technology chiefs, who said they are increasing their focus on mobile products and Web-based services.
Monte E. Ford, chief information officer of AMR Corp., parent of American Airlines, said most of the company's tech spending has gone towards building services that help employees and customers, such as its wireless applications for smartphones and tablets.
"The consumer is dictating where we go and what we are doing," said Mr. Ford, noting AMR's overall budget was similar to last year.
Sales continue to surge for smartphones and gadgets from Apple Inc., which is expected to report a revenue leap of nearly 73% on Wednesday. Chips from Intel and disk drives from Seagate Technology-which Tuesday reported an 82% drop in quarterly earnings-haven't been used much in such products.
But sales of large computers, including the server systems that run websites and other corporate functions, are seeing solid demand as companies set up or expand online applications.
More
Heard on the Street: Premature Party for Intel
Facebook Seeking Friends in Beltway
Yahoo Continues to Face Uphill Climb
.IBM's first-quarter profit rose 10% to $2.86 billion as revenue reached $24.6 billion, up from $22.86 billion. While its services and software businesses increased, the company saw the biggest revenue growth in its hardware group.
The Armonk, N.Y., company said that its four growth initiatives-cloud computing, business analytics, emerging markets and infrastructure upgrades-continued to gain momentum. For example, the company said revenue in markets such as Brazil and India rose 18%. "Our key growth plays had fantastic performance," said IBM chief financial officer Mark Loughridge on a conference call.
Daniel Flax, chief information officer of TheStreet.com Inc., said the company is purchasing smartphones and tablet computers for its workers. For the first time it is also working with IBM Global Services, which will help build a wireless network for the company's office.
"Our mobile efforts are seeing the biggest spend," said Mr. Flax, noting the website publisher would raise its technology budget this year by around 5%.
But the tide is not lifting all boats equally. The business technology market is increasingly bifurcating into a set of leaders and laggards, with much of the revenue growth flowing to companies benefiting from mobile products and cloud computing.
Now Reporting
Track the performances of 150 companies as they report and compare their results with analyst estimates. Sort by date and industry.
.More photos and interactive graphics
.Bucking concerns about its limited role in smartphones and tablets, Intel reported earnings for the quarter ended April 2 of $3.16 billion, up from $2.44 billion a year ago. Revenue rose to $12.85 billion from $10.3 billion.
Intel's surprisingly strong results could fuel further debate about the health of the PC sector, and the potential impact of tablets on the industry. International Data Corp. last week said global PC shipments fell 3.2% in the first quarter, while Gartner Inc. reported a 1.1% drop; both firms previously had forecast slight growth for the quarter.
Intel's Mr. Otellini said computer makers ordered heavily, timing their purchases to take advantage of new Intel chip models-and predicted companies would start upgrading their PCs to use the technology.
"We are still in the early phase of an enterprise upgrade cycle," said Mr. Otellini, who predicted PC industry unit growth in "low double-digit" percentages for all of 2011.
But some analysts see a more disruptive impact from tablets; Goldman Sachs estimated Tuesday that tablets could cannibalize 35% of PC sales in 2011, since many laptops are used mainly to consume content.
det bliver spændende at følge
nu tager idc til genmæle og påstår at PC salget vitterligt er faldet i 11 1q og at det må være lagerbevægelser
men jeg har jo også altid holdt på at lagerbevægelser er vigtige og nok den mest vigtige kortsigtede parameter i markedsspykologien og udviklingen i aktiekurserne
jeg har hele tiden timet mine salg af teknologiaktierne ud fra at der har været en negativ lagercyklus igang siden en top i sommeren 2010 og at lagrene var blevet for store og der var vedvarende prisfald, så det er meget sandsynligt at denne lagerreduktion siden sommeren 2010 nu er afløst af en genopbygning af lagrene, hvor så intel er tidligt med på denne genopbygning, medens slutsalget ikke er kommet med endnu bl.a. pga faldende priser og normal sæsonudvikling, hvor 1q altid er svag efter et stærkt 4q så jeg tror at intels udmelding er mere vigtigt, nemlig at man nu er igang med at genopbygge lagrene til højsæsonen i 11 2h fordi man reducerede lagrene for meget i 4q og 1q, hvor det er svært at skelne mellem slutsalg og ændringer i lagrene
men intel er den vigtigste indikator man kan finde på udviklingen og det er vigtigt at fastholde at det er væksten i emerging markets som er svære at måle, der ifølge intel er afgørende for den positive udvikling i salget
A Premature Party for Intel .Article Stock Quotes Comments (4) more in Heard on the Street ».EmailPrintSave This ↓ More.
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close ViadeoStumbleUponYahoo! BuzzMySpacedel.icio.usRedditFarkOrkutFacebook Text By ROLFE WINKLER
Intel shareholders may be celebrating too soon.
Shares leapt 5% in aftermarket trading when the tech firm posted strong first-quarter revenue growth. After excluding the impact of acquisitions, Intel's revenue was 6% above expectations-no easy feat for so large a company.
But thanks to weak sales of PCs, responsible for 70% of Intel revenue, the rest of the year looks less rosy. Last week, research firm IDC said global PC shipments declined 3.2% in the first quarter, compared with the prior year. The reason: More consumers are turning to tablets. Based on the weak figure, Bernstein analyst Stacy Rasgon expects PC unit growth to be "flattish" in 2011. Yet Intel chief Paul Otellini is confident unit growth will be in the "low double digits."
Intel likely saw gains in the quarter thanks to a buildup of PC inventories. The bigger issue remains its failure to win a leading position for its chips in smartphones, shipments of which will race past PCs for the first time this year, says Gartner. Intel's power-hungry processors are poorly suited to phones, which mostly run chips based on ARM Holdings' competing technology. Though Intel says it will release a comparable chip later this year, it will still be tough to crack into the market. To do so, Intel may have to take more dramatic action, like going with ARM's technology instead of its own for mobile.
Bullish investors need to take a longer view.
Write to Rolfe Winkler at [email protected]
Copyright 2011 Dow Jones & Company, Inc. All Rights Reserved
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit
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nu tager idc til genmæle og påstår at PC salget vitterligt er faldet i 11 1q og at det må være lagerbevægelser
men jeg har jo også altid holdt på at lagerbevægelser er vigtige og nok den mest vigtige kortsigtede parameter i markedsspykologien og udviklingen i aktiekurserne
jeg har hele tiden timet mine salg af teknologiaktierne ud fra at der har været en negativ lagercyklus igang siden en top i sommeren 2010 og at lagrene var blevet for store og der var vedvarende prisfald, så det er meget sandsynligt at denne lagerreduktion siden sommeren 2010 nu er afløst af en genopbygning af lagrene, hvor så intel er tidligt med på denne genopbygning, medens slutsalget ikke er kommet med endnu bl.a. pga faldende priser og normal sæsonudvikling, hvor 1q altid er svag efter et stærkt 4q så jeg tror at intels udmelding er mere vigtigt, nemlig at man nu er igang med at genopbygge lagrene til højsæsonen i 11 2h fordi man reducerede lagrene for meget i 4q og 1q, hvor det er svært at skelne mellem slutsalg og ændringer i lagrene
men intel er den vigtigste indikator man kan finde på udviklingen og det er vigtigt at fastholde at det er væksten i emerging markets som er svære at måle, der ifølge intel er afgørende for den positive udvikling i salget
A Premature Party for Intel .Article Stock Quotes Comments (4) more in Heard on the Street ».EmailPrintSave This ↓ More.
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close ViadeoStumbleUponYahoo! BuzzMySpacedel.icio.usRedditFarkOrkutFacebook Text By ROLFE WINKLER
Intel shareholders may be celebrating too soon.
Shares leapt 5% in aftermarket trading when the tech firm posted strong first-quarter revenue growth. After excluding the impact of acquisitions, Intel's revenue was 6% above expectations-no easy feat for so large a company.
But thanks to weak sales of PCs, responsible for 70% of Intel revenue, the rest of the year looks less rosy. Last week, research firm IDC said global PC shipments declined 3.2% in the first quarter, compared with the prior year. The reason: More consumers are turning to tablets. Based on the weak figure, Bernstein analyst Stacy Rasgon expects PC unit growth to be "flattish" in 2011. Yet Intel chief Paul Otellini is confident unit growth will be in the "low double digits."
Intel likely saw gains in the quarter thanks to a buildup of PC inventories. The bigger issue remains its failure to win a leading position for its chips in smartphones, shipments of which will race past PCs for the first time this year, says Gartner. Intel's power-hungry processors are poorly suited to phones, which mostly run chips based on ARM Holdings' competing technology. Though Intel says it will release a comparable chip later this year, it will still be tough to crack into the market. To do so, Intel may have to take more dramatic action, like going with ARM's technology instead of its own for mobile.
Bullish investors need to take a longer view.
Write to Rolfe Winkler at [email protected]
Copyright 2011 Dow Jones & Company, Inc. All Rights Reserved
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit
www.djreprints.com
More In Heard on the Street Join the discussion 4 Comments, add yours More In Heard on the Street »
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20/4 2011 06:25 TeamGarlic 041493 Tak for gode indlæg, LE !
Bemærkelsesværdigt, at Intel har købt for USD 4 mia. egne aktier uden, at aktien har kunnet stige. Det er trods alt cirka 4 dages omsætning i kvartallet, som de alene har slubret i sig.
Jeg ved ikke om SOX.x er for bredt defineret, men det har kun formået at røre ved MA50 den 6. april, men slet ikke bryde det.
Bemærkelsesværdigt, at Intel har købt for USD 4 mia. egne aktier uden, at aktien har kunnet stige. Det er trods alt cirka 4 dages omsætning i kvartallet, som de alene har slubret i sig.
Jeg ved ikke om SOX.x er for bredt defineret, men det har kun formået at røre ved MA50 den 6. april, men slet ikke bryde det.
Virkeligt flot af intel og man skal huske at Intel også sidste år havde pæn vækst og det ser ganske rigtig ud som at Tablet markedet godt kan skabe endnu mere varig vækst i markedet. Jeg skal lige have kigget regnskabet igennem så vender jeg tilbage med en mere kvalificeret kommentar.
20/4 2011 05:41 141487 Her deres opdaterede FY forventninger, det er helt vilde tal for forskning og m&A: 15,7 mia dollar. Det er over hvad danmark bruger på forskning på alle områder på alt. Det må der bare komme gode ting ud af.
Full-Year 2011 (GAAP, unless otherwise stated)
Gross margin percentage: 63 percent, plus or minus a few percentage points.
Non-GAAP gross margin: excluding certain accounting impacts and expenses related to acquisitions, the gross margin forecast is 64% plus or minus a few points.
Spending (R&D plus MG&A): $15.7 billion, plus or minus $200 million.
Amortization of acquisition related intangibles: approximately $260 million.
Tax rate: approximately 29 percent for the second, third and fourth quarters.
Depreciation: $5 billion, plus or minus $100 million.
Capital spending: $10.2 billion, plus or minus $400 million.
2011 will have 53 weeks of business versus the typical 52 weeks, as the company realigns its fiscal year with the calendar year.
De brugte 4 milliarder dollars bare i q1 på at tilbagekøbe aktier, så der kommer måske enten noget annullering eller ihvertfald en hånd under kursen også i q2.
PC Client Group revenue up 17 percent, Data Center Group revenue up 32 percent, other Intel architecture group revenue up 70 percent, and Intel® Atom™ microprocessor and chipset revenue of $370 million up 4 percent, all year-over-year.
The average selling price (ASP) for microprocessors was up sequentially.
Gross margin was 61 percent.
R&D plus MG&A spending of $3.7 billion, slightly higher than the company's expectation.
The net gain of $213 million from equity investments and interest and other, consistent with the company's expectation.
The effective tax rate was 28 percent, in-line with the company's outlook of 29 percent.
The company used $4.0 billion to repurchase 189 million shares of common stock.
During the quarter, the company closed the acquisitions of Infineon Wireless Solutions and McAfee, Inc. The combination of both acquisitions contributed revenue of $496 million.
The first quarter of 2011 had 14 weeks of business versus the typical 13 weeks, as the company realigned its fiscal year with the calendar year.
Full-Year 2011 (GAAP, unless otherwise stated)
Gross margin percentage: 63 percent, plus or minus a few percentage points.
Non-GAAP gross margin: excluding certain accounting impacts and expenses related to acquisitions, the gross margin forecast is 64% plus or minus a few points.
Spending (R&D plus MG&A): $15.7 billion, plus or minus $200 million.
Amortization of acquisition related intangibles: approximately $260 million.
Tax rate: approximately 29 percent for the second, third and fourth quarters.
Depreciation: $5 billion, plus or minus $100 million.
Capital spending: $10.2 billion, plus or minus $400 million.
2011 will have 53 weeks of business versus the typical 52 weeks, as the company realigns its fiscal year with the calendar year.
De brugte 4 milliarder dollars bare i q1 på at tilbagekøbe aktier, så der kommer måske enten noget annullering eller ihvertfald en hånd under kursen også i q2.
PC Client Group revenue up 17 percent, Data Center Group revenue up 32 percent, other Intel architecture group revenue up 70 percent, and Intel® Atom™ microprocessor and chipset revenue of $370 million up 4 percent, all year-over-year.
The average selling price (ASP) for microprocessors was up sequentially.
Gross margin was 61 percent.
R&D plus MG&A spending of $3.7 billion, slightly higher than the company's expectation.
The net gain of $213 million from equity investments and interest and other, consistent with the company's expectation.
The effective tax rate was 28 percent, in-line with the company's outlook of 29 percent.
The company used $4.0 billion to repurchase 189 million shares of common stock.
During the quarter, the company closed the acquisitions of Infineon Wireless Solutions and McAfee, Inc. The combination of both acquisitions contributed revenue of $496 million.
The first quarter of 2011 had 14 weeks of business versus the typical 13 weeks, as the company realigned its fiscal year with the calendar year.
læg lige mærke til at tallene QoQ lige havde omkring 8% mere "uge" end sidste kvartal
20/4 2011 05:52 141490 Jeg slår lige et slag for vores graf system og herunder også grafen. I går i chatten kom MortenGuld med mange gode kommentarer. Chatten forsvinder bare hurtigt og de færreste læser historikken og indlæg bliver ikke indlagt på selve tickeren.
Det er ærgeligt. Vores nye virksomhedssider lægger blandt andet debat indlæg direkte ind på grafen, hvilket gør at man kan følge udviklingen i selskabet i en ny dimension.
Her intel historisk.
Det er ærgeligt. Vores nye virksomhedssider lægger blandt andet debat indlæg direkte ind på grafen, hvilket gør at man kan følge udviklingen i selskabet i en ny dimension.
Her intel historisk.
Intel starter rigtigt godt idag i 21,24 og ligger pt. i 21,36.
