Intel Stock Slips as CFO Warns of Excess Data Center Chip Inventories

Intel sees a couple of quarters of 'inventory digestion' in the data center chip business.

Intel shares hit an air pocket on Tuesday after the chip company made some cautionary comments on data center chip demand in a meeting with analysts connected with the Intel Innovation customer event in San Jose.

Intel CFO David Zinsner told investors that channel inventory of data center processors is taking longer to clear than it did for the company’s PC processor business. He said Intel is finding the recovery in the data center business to be “a little bit more delayed.” Zinsner added that Intel is going to see “inventory digestion” in the third quarter and likely the fourth quarter before seeing a turnaround on the data center business. He added that the data center business in the September quarter will be down quarter over quarter.

Earlier in the day, CEO Pat Gelsinger unveiled the company’s plans for the introduction of processors to power AI capable laptops.

Vi har oppsummert denne nyheten slik at du kan lese den raskt. Er du interessert i nyhetene kan du lese hele teksten her. Les mer:

MarketWatch /  🏆 3. in US

Norge Siste Nytt, Norge Overskrifter

Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.

Intel Shares Slip as CFO Warns of Excess Data Center Chip InventoriesIntel sees a couple of quarters of 'inventory digestion' in the data center chip business.
Les mer »

Intel will launch Meteor Lake on December 14th — this is Intel’s Core UltraIntel, chiplet style.
Les mer »

Nio stock slips on convertible bond offer and other shares on the moveNio, ARM Holdings and Avinger were active.
Les mer »

Pay Attention to Intel in the AI Race, Analyst SaysIntel could be an AI stock, Melius Research analyst Ben Reitzes writes in a research note.
Les mer »

| Azul Azul S.A. Stock Quote (Chile: Santiago)AZULAZUL | Complete Azul Azul S.A. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Les mer »

| Aurora Cannabis Inc. Stock Quote (Canada: Toronto)ACB | Complete Aurora Cannabis Inc. stock news by MarketWatch. View real-time stock prices and stock quotes for a full financial overview.
Les mer »