Hello and welcome to Market Domination. I'm Josh Lipton live from our New York headquarters. There's just an hour to go now until the closing bell and stocks. They are extending gains from Wednesday's rally. Our very own Jared Blickery standing by with all the headlines. Jared? >> Yes, Josh. We have now recovered most of those losses from earlier in the week. And let's check out what the Dow is doing here. Uh we can see it's been in the green the entire day. Here is the entire week. So we are now 4 days in. ...

Core Insights - Intel is facing supply chain issues that have affected its ability to meet demand, leading to inventory clearance in the fourth quarter [1] - The CEO admitted that production yields have not met the company's standards, indicating internal execution problems [2] - Despite robust demand for CPUs, Intel is struggling to deliver products to the market effectively [3] Foundry Business - Revenue from Intel's foundry business in the fourth quarter exceeded expectations, with potential for new customer additions looking towards 2026 [4] - The industry is awaiting substantial updates from Intel regarding its 14nm process, with the CEO emphasizing the need for volume commitments from customers before ramping up production [5] - Intel is currently engaged with multiple customers on engineering and IP sharing for the 14nm process, but no concrete customer commitments have been established yet [6] Market Position - There is a national push for onshoring chip manufacturing in the U.S., with Intel being considered as a potential national champion, although specific customer names are not disclosed [7] - The stock has experienced volatility, dropping 5% in after-hours trading, reflecting market uncertainty regarding Intel's future commitments and performance [7]

Company Overview - Intel is expected to report a revenue decline for the first quarter, with analysts forecasting a revenue of $2.7 billion, slightly above the street's expectation of $2.6 billion [9] - The company has seen a significant drop in revenue from 2020 to 2025, with expectations for a return to revenue growth in 2026 [4][5] Earnings Performance - For the fourth quarter, Intel reported revenue of $13.67 billion, exceeding expectations, with an adjusted EPS of $0.15, also beating the forecast of $0.08 [10][11] - Despite the positive fourth-quarter results, the outlook for the first quarter has disappointed investors, leading to a decline in share price [11][25] Market Reaction - Following the earnings report, Intel shares fell approximately 4% in after-hours trading, reflecting investor disappointment over the lackluster forecast [12][20] - The stock has been a top performer among semiconductor companies over the past year, but the current forecast has raised concerns [26] Supply Chain Issues - Intel's CEO indicated that the company is facing supply shortages that are hindering its ability to meet customer demand, despite strong demand for its products [12][25] - The CFO noted that the company expects the lowest available supply in the first quarter, with improvements anticipated in subsequent quarters [13] Analyst Sentiment - There is a mixed sentiment among analysts regarding Intel, with some remaining bullish on the company's potential to ramp up production effectively [14] - The company has a significant number of hold ratings, with only a few buy ratings, indicating cautious optimism among analysts [14]

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About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Core Viewpoint - Intel Corp. shares declined by up to 5% in after-hours trading following a first-quarter outlook that fell short of Wall Street expectations, dampening optimism regarding its turnaround efforts [1] Financial Performance - Intel forecasted first-quarter revenue of approximately $12.2 billion, below the average estimate of $12.6 billion [1] - The company expects to break even on an earnings-per-share basis, contrasting with analysts' projections of $0.08 [1] - In the fourth quarter, Intel reported earnings of $0.15 per share, surpassing last year's $0.13 and the expected $0.09 [3] - Revenue for the fourth quarter was $13.7 billion, a 4% decline from the previous year but above forecasts of $13.4 billion [3] Market Dynamics - The cautious outlook follows a better-than-expected fourth quarter, highlighting the challenges Intel faces in balancing short-term cost pressures with long-term investments in artificial intelligence and advanced manufacturing [2] - Demand for CPUs, particularly in data centers for AI workloads, is rising, as noted by CEO Lip-Bu Tan [3][4] - Intel's adjusted gross margin was 37.9%, down from 42.1% a year ago but better than estimates [4] Competitive Landscape - Intel remains the only large-scale US producer of leading-edge chips, supported by the federal government, positioning it against Asian manufacturing rivals [6] - The company faces intense competition from Advanced Micro Devices and Arm-based designs, while Nvidia leads in AI accelerators [6] Investor Sentiment - Wall Street sentiment towards Intel has improved recently due to stronger demand for traditional CPUs and excitement around upcoming Panther Lake chips for AI-powered PCs [7] - Despite a nearly 12% increase in shares this month, the momentum is now under scrutiny due to rising costs for memory and storage components, which could impact demand for Intel-based servers and PCs [8]

每经AI快讯，1月23日，英特尔去年第四季度营收136.7亿美元，同比减少4.1%，市场预估134.3亿美 元；第四季度调整后每股收益0.15美元，上年同期0.13美元，预估0.09美元。英特尔预计第一季度调整 后每股收益0.0美元，市场预估0.08美元；预计第一季度营收117亿美元至127亿美元，预估125.6亿美 元。英特尔盘后跌超5%。 （文章来源：每日经济新闻） ...

The troubled chip maker saw its revenue sag 3.9% year-over-year to $13.7 billion. ...

Financial Performance - Q4 2025 revenue was $13.7 billion, down 4% year-over-year, while full-year revenue was $52.9 billion, flat year-over-year[7]. - Q4 2025 gross margin was 36.1%, down 3.1 percentage points from Q4 2024, and non-GAAP gross margin was 37.9%, down 4.2 percentage points[5]. - Q4 2025 net loss attributable to Intel was $(0.6) billion, compared to a loss of $(0.1) billion in Q4 2024, while non-GAAP net income was $0.8 billion, up 35% year-over-year[5]. - Intel forecasts Q1 2026 revenue between $11.7 billion and $12.7 billion, with expected EPS of $(0.21) and non-GAAP EPS of $0.00[7][13]. - Operating income for the three months ended December 27, 2025, was $580 million, compared to an operating loss of $412 million for the same period in 2024[23]. - For the twelve months ended December 27, 2025, total revenue was $52,853 million, a slight decrease from $53,101 million in 2024, reflecting a decline of 0.5%[29]. - The operating loss for the twelve months ended December 27, 2025, was $2,214 million, an improvement from an operating loss of $11,678 million in 2024[29]. - GAAP net income attributable to Intel for Q4 2025 was a loss of $591 million, while non-GAAP net income was $767 million, indicating a positive trend in core operations[40]. - GAAP earnings per share attributable to Intel for Q4 2025 was $(0.12), compared to $(0.03) in Q4 2024[41]. - Non-GAAP earnings per share attributable to Intel for Q4 2025 was $0.15, up from $0.13 in Q4 2024[41]. Cash Flow and Assets - The company generated $4.3 billion in cash from operations in Q4 2025 and $9.7 billion for the full year[6][9]. - Cash and cash equivalents rose to $14,265 million as of December 27, 2025, compared to $8,249 million a year earlier[25]. - The company reported a net cash provided by operating activities of $9,697 million for the twelve months ended December 27, 2025, compared to $8,288 million in 2024[27]. - Intel's net cash used for investing activities in Q4 2025 was $(6,566) million, compared to $(3,764) million in Q4 2024[41]. - Intel's net cash provided by financing activities for Q4 2025 was $5,849 million, significantly higher than $63 million in Q4 2024[41]. Research and Development - Research and development expenses for the twelve months ended December 27, 2025, were $13,774 million, down 16.9% from $16,546 million in 2024[23]. Strategic Initiatives - The Intel® Core™ Ultra Series 3 processor family was introduced, marking the company's first AI PC platform built on the Intel 18A process technology[15]. - Intel and Cisco announced a collaboration for an integrated platform for distributed AI workloads, enhancing real-time AI inferencing capabilities[15]. - Intel's 18A process technology ramped to high-volume manufacturing, reinforcing its position in advanced semiconductor manufacturing[15]. - The company completed a $5.0 billion common stock sale to NVIDIA, strengthening its balance sheet and strategic flexibility[15]. Liabilities and Assets - Total current assets increased to $63,688 million as of December 27, 2025, from $47,324 million as of December 28, 2024[25]. - Total liabilities decreased to $85,665 million as of December 27, 2025, from $91,453 million as of December 28, 2024[25]. - Intel's total assets increased to $211,429 million as of December 27, 2025, from $196,485 million as of December 28, 2024[25]. Segment Performance - Intel's revenue from CCG (Client Computing Group) for the three months ended December 27, 2025, was $8,193 million, down from $8,769 million in the same period of 2024, a decrease of 6.5%[29]. - The DCAI (Data Center and AI) segment generated revenue of $4,737 million for the three months ended December 27, 2025, compared to $4,351 million in the same period of 2024, an increase of 8.8%[29]. - The Foundry segment reported revenue of $4,507 million for the three months ended December 27, 2025, compared to $4,340 million in the same period of 2024, reflecting a growth of 3.8%[29]. - The "all other" category, which includes operations from non-reportable segments, contributed $574 million in revenue for the three months ended December 27, 2025[29]. Tax and Expenses - The projected non-GAAP tax rate for 2026 is estimated to be 11%, down from 12% for 2025 and 13% for 2024, indicating a strategic adjustment in tax planning[32]. - GAAP operating expenses for full-year 2025 were $20.6 billion, projected to decrease to approximately $18.2 billion in full-year 2026[46]. - Non-GAAP operating expenses for full-year 2025 were $16.5 billion, expected to decrease to approximately $16.0 billion in full-year 2026[46]. Other Financial Metrics - Adjusted free cash flow is referenced as a key non-GAAP measure, providing insights into the company's liquidity and capital resources[36]. - Deferred tax assets valuation allowances were excluded from non-GAAP measures, facilitating a clearer evaluation of core operating performance[36]. - The company experienced gains on equity investments, netting $97 million in Q4 2025, which were excluded from non-GAAP calculations for comparability[40]. - Acquisition-related adjustments contributed $117 million to non-GAAP operating income in Q4 2025, reflecting the impact of strategic acquisitions on financial performance[40].

Core Insights - Intel reported fourth-quarter earnings that exceeded Wall Street expectations but provided soft guidance for the upcoming quarter, leading to a 5% drop in after-hours trading [1] - The company anticipates first-quarter revenue between $11.7 billion and $12.7 billion, with adjusted earnings per share of 0 cents, falling short of LSEG expectations of 5 cents per share on $12.51 billion in sales [1] Financial Performance - Intel experienced a net loss of $600 million, or 12 cents per diluted share, compared to a net loss of $100 million, or 3 cents per share, in the same period last year [2] - The company reported revenue of $13.7 billion for the quarter, surpassing the estimated $13.4 billion [7] Business Developments - There is optimism regarding Intel's foundry business, which generated $4.5 billion in revenue, partly from manufacturing its own chips [4] - Strong sales of Intel's latest server chips contributed to a 9% year-over-year increase in Data Center and AI sales, totaling $4.7 billion [5] Technology Advancements - CEO Lip-Bu Tan indicated that Intel's 18A manufacturing technology has matured enough for volume production, with plans to increase supply to meet strong customer demand [3] - The company expects customers for its next-generation 14A technology to emerge in the second half of the year, with significant capital spending anticipated once customers are secured [4] Strategic Investments - Major investments from the U.S. government, SoftBank, and Nvidia have positioned them as significant shareholders in Intel, with a completed stock sale to Nvidia worth $5 billion during the quarter [6]