Intel Corp. (INTC) Gets Nailed in the Aftermarket
Intel Corp.'s profit leaped 51 percent as sales of microprocessors accelerated in the fourth quarter, but its shares plummeted on signs that the world's largest semiconductor maker is feeling the pinch of an ailing U.S. economy.
The Santa Clara-based company's results, released after the market closed Tuesday, narrowly missed Wall Street's profit and sales expectations.
The results jolted investors who thought the technology bellwether was shielded from the housing and lending morass that has crimped consumers' discretionary spending, analysts said.
"The stock is reacting as hard as it is because the market was expecting Intel to be at the tail of the dog -- not really seeing the weakness we're seeing in retail yet," said Doug Freedman, an analyst with American Technology Research. "But the numbers at the top line suggest they are absolutely seeing this weakness."
The Santa Clara-based company's results, released after the market closed Tuesday, narrowly missed Wall Street's profit and sales expectations.
The results jolted investors who thought the technology bellwether was shielded from the housing and lending morass that has crimped consumers' discretionary spending, analysts said.
"The stock is reacting as hard as it is because the market was expecting Intel to be at the tail of the dog -- not really seeing the weakness we're seeing in retail yet," said Doug Freedman, an analyst with American Technology Research. "But the numbers at the top line suggest they are absolutely seeing this weakness."
Labels: INTC, Intel Corp.
posted by Stock Administrator @ 8:50 PM
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