Core Viewpoint - Intel's stock is down approximately 7.5% following earnings, which were below expectations for Q1 guidance, impacting both top and bottom lines as well as margins [1][2] Financial Performance - The fourth quarter showed strong performance with beats across various metrics, but the Q1 guidance fell short of expectations [2][9] - Foundry revenue exceeded expectations at $4.51 billion, which is crucial for Intel's turnaround strategy [11][15] Supply Chain and Production Challenges - Intel is facing supply constraints, particularly in the data center segment, which is affecting their ability to meet customer demand [6][14] - Production yields for the Panther Lake product are currently at 60%, which is below the company's standards [12] Strategic Focus and Future Outlook - The company's long-term strategy is centered around customer momentum in the foundry business, particularly with major clients like Nvidia and Apple [9][10] - Intel's CEO has emphasized the importance of focusing on core priorities such as AI, data centers, and GPU technology [7][8] Market Dynamics - There is a shift in memory manufacturing away from PC and smartphone memory towards high bandwidth memory for AI data centers, which may limit CPU demand [4][14] - Despite current challenges, there is potential for pent-up demand in the PC market, which may push out into 2027 [15]

Financial Data and Key Metrics Changes - Fourth quarter revenue was $13.7 billion, marking strong growth across all businesses, driven by AI infrastructure build-out, with AI PC, traditional server, and networking revenue all up double digits sequentially and year over year [17] - Non-GAAP gross margin for Q4 was 37.9%, approximately 140 basis points ahead of guidance, while full year Non-GAAP gross margin was 36.7%, up 70 basis points year over year [17][18] - Non-GAAP earnings per share for Q4 was $0.15, exceeding guidance of $0.08, driven by higher revenue and stronger gross margins [17] Business Line Data and Key Metrics Changes - Client Computing Group (CCG) revenue was $8.2 billion, down 4% quarter over quarter, despite AI PC units growing 16% [21] - Data Center and AI (DCAI) revenue was $4.7 billion, up 15% sequentially, marking the fastest sequential growth this decade [23] - Intel Foundry revenue was $4.5 billion, up 6.4% sequentially, with an operating loss of $2.5 billion in Q4 due to the early ramp of Intel 18A [24] Market Data and Key Metrics Changes - The client consumption Total Addressable Market (TAM) was estimated to be greater than 290 million units in 2025, marking two consecutive years of growth [22] - The custom ASIC business grew more than 50% in 2025, reaching an annualized revenue run rate greater than $1 billion in Q4 [23] - The demand for traditional servers remains strong, with a focus on ramping available capacity to support the uptick in demand [10] Company Strategy and Development Direction - The company aims to strengthen its client franchise and advance its data center, AI accelerator, and ASIC strategies to capture growth opportunities presented by AI [6] - A centralized approach for the data center and AI group is being implemented to ensure tight coordination across CPUs, GPUs, and platform strategy [10] - The long-term ambition is to rebuild Intel as a compute platform of choice for the next era of AI-driven computing, focusing on world-class engineering and execution [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the significant growth opportunity AI presents across all businesses, despite acknowledging challenges in meeting demand due to supply constraints [15] - The company is committed to improving yield and efficiency in its manufacturing processes to better support customer needs [16] - Management anticipates a strong year of growth for DCAI in 2026, with improvements in factory network supply expected beginning in Q2 [28] Other Important Information - The company generated $9.7 billion in cash from operations for the full year and ended 2025 with $37.4 billion in cash and short-term investments [19] - The company is planning to retire all $2.5 billion of maturities as they come due this year [30] - The company is focused on building a world-class wafer and advanced packaging foundry, with significant milestones achieved in the development of Intel 18A [13] Q&A Session Summary Question: Short-term supply and yield improvements - Management indicated that improving yields and throughput are key drivers of supply increases, with confidence in a positive trajectory [32] Question: Gross margin expectations - Management explained that gross margin decline in Q1 is due to lower revenue and the impact of new product costs, with expectations for improvement as supply and cost structures stabilize [37] Question: Server prospects and market share - Management emphasized the importance of the 16-channel Diamond Rapids and Coral Rapids in driving market share, with a focus on meeting hyperscaler demand [46] Question: Supply constraints and inventory management - Management acknowledged that both client and data center revenues will be down due to supply constraints, but expects improvements in Q2 [52] Question: External foundry revenue expectations - Management anticipates that significant external foundry revenue will begin to materialize in 2028, with ongoing customer engagements [59]

For more on the Intel quarter, let's bring in Fast Money Friend Jean Monster. Uh he's the managing partner at Deep Water Asset Management. Gan, great to have you with us.>> Hi, Melissa. >> Uh what' you make of the I mean, you know, the stock is up 47% this year and it's January uh 22nd. So, you know, this pullback is minor, but what did you make of this quarter.And is the stock appropriately valued here. So at the most basic level, Intel is a meme stock. Uh they're going to grow 3% next year.Uh Nvidia, whic ...

Intel's conference call just kicking off at the top of the hour. Christina Parts Neville is here on set [music] with the very latest. So the guide was weak because they just don't have enough supply.They warned that there were supply constraint last quarter. Uh the peak of that supply constraint would be in Q1 this actual current quarter. I was able to speak with the CFO very recently just in the last hour or so just about the earnings.And so he attributed that weakness in the guide because of that. You're ...

为应对持续的财务挑战并增强资产负债表的灵活性，英特尔在资本层面进行了重大操作。财报披露，公 司已完成向英伟达(NVIDIA)出售价值50亿美元的英特尔普通股。这一战略引资举措不仅为英特尔提供 了急需的现金流支持，也引发了业界对双方在AI算力生态上潜在竞合关系的广泛猜测。在技术路线 上，英特尔宣布其Intel18A制程已在亚利桑那州和俄勒冈州进入大批量制造阶段，这是公司重夺制程领 先地位的关键节点，首批基于该工艺的产品预计将主要面向高性能计算市场。 展望未来，英特尔对短期业绩持谨慎态度。公司首席财务官David Zinsner指出，预计2026年第一季度的 可用供应量将降至最低水平，随后在第二季度逐步改善。基于此，英特尔预计2026年第一季度营收将在 117亿至127亿美元之间，毛利率指引降至32.3%(GAAP)。面对行业激烈的竞争环境，公司管理层重申了 重振工程技术卓越性以及抓住AI机遇的战略重点，但如何在供应链受限和现金流压力的双重挑战下实 现业绩反转，仍是市场关注的焦点。 凤凰网科技讯北京时间1月23日，英特尔公司(Nasdaq:INTC)今日公布了截止2025年12月27日的第四季度 及全年财务报告。 ...

每经AI快讯，1月23日，英特尔股价美股盘后跌9%。 （文章来源：每日经济新闻） ...

Core Insights - Intel's outlook for the upcoming quarter has missed analysts' projections, leading to a decline in its stock price [1][6] - The company anticipates that supply levels will reach their lowest point in Q1 before improving in Q2 and beyond, as stated by CFO David Zinsner [1][6] Financial Performance - Intel expects breakeven adjusted earnings in Q1 with revenue projected between $11.7 billion and $12.7 billion, which is below analysts' expectations [4] - In Q4, Intel reported adjusted earnings of 15 cents per share on revenue of $13.67 billion, exceeding analysts' estimates [4] Market Reaction - The stock price of Intel fell more than 6% in after-hours trading, indicating a potential correction after a significant increase of nearly 50% in January due to optimism surrounding AI product demand [3][5] - The company's recent warnings about supply issues have raised valuation concerns among investors, particularly in light of the stock's recent performance [2][3]

Market Overview - Stocks closed higher for the second consecutive day, with the Dow up about 300 points or 1.6%, the Nasdaq up almost 1%, and the S&P 500 up about 0.5% or 37 points [2][3] - The Russell 2000 and S&P 600 reached record highs, with the Russell 2000 up 0.7% [3] - The VIX index showed a spike above 20 earlier in the week but has since returned to lower levels, indicating reduced volatility concerns [4] Interest Rates and Yields - The 10-year Treasury yield closed at 4.25%, while the 30-year yield decreased by two basis points to 4.85% [5] - Higher long-term yields have raised concerns about the Federal Reserve's control over the situation, but the recent decline in yields is seen as positive for investors [6] Sector Performance - Mega-cap sectors, including communication services, consumer discretionary, and technology, led the market gains, with notable performances from companies like Alphabet, Meta, Tesla, and Nvidia [7][8] - Financials also showed strength, with large-cap financials up about 0.6% [8] - Underperforming sectors included real estate, utilities, industrials, and staples, all closing in the red [8] Intel's Q4 Earnings - Intel reported Q4 EPS of 15 cents, beating estimates, and revenue of $13.67 billion, also above the expected $13.43 billion [10][11] - Data center and AI revenue for Q4 was $4.74 billion, exceeding the estimate of $4.42 billion, while client computing revenue was slightly below expectations at $8.19 billion [11] - The Q1 revenue forecast is between $11.7 billion and $12.7 billion, which is below the consensus estimate of $12.56 billion, leading to a 5% drop in stock price after the report [11][12] Market Sentiment and Future Outlook - Analysts noted that despite the weak guidance, there are positive signs in the server market and the importance of CPUs in AI compute [19][28] - Concerns remain about manufacturing yields and inventory levels, which could impact future sales and forecasts [21][23] - The overall sentiment towards Intel's core customers in the PC business appears more confident compared to previous years, indicating a potential positive shift [32] Credit Card Interest Rates - Bank of America and Citigroup are reportedly considering new credit cards with a 10% interest rate, amidst discussions on affordability and high credit card rates [34][35] - Former FDIC chair Sheila Blair commented on the high average credit card rates and the potential for banks to lower them without significant risk to credit availability [36][38]

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Core Viewpoint - Intel's stock is experiencing a significant decline in after-hours trading despite reporting strong Q4 2025 financial results, primarily due to a disappointing outlook for Q1 2026 [1][3]. Financial Performance - Intel reported Q4 2025 sales of $13.7 billion, exceeding analyst expectations of $13.39 billion [4]. - The company achieved an adjusted EPS of $0.15, surpassing the anticipated $0.08 [4]. Q1 2026 Outlook - For Q1 2026, Intel's management projects revenue between $11.7 billion and $12.7 billion, with an adjusted EPS of $0.00, which is below the analyst consensus of $12.55 billion in revenue and $0.05 EPS [3][4]. - CFO David Zinsner indicated that supply challenges in Q1 2026 are expected to improve in Q2 and beyond [5]. Market Reaction - Following the earnings report, Intel's shares fell by 6.7% from a closing price of $54.32 during regular trading [1]. - The current trading valuation of Intel is at 904 times trailing earnings, which is considered high for a well-established company [5].