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Special topic: Focus on the financial report of the first quarter of 2024 of the US stock market
Intel reported better than expected first quarter earnings, but its revenue outlook was worse than expected. The stock market fell more than 5%.
Intel (INTC) released its first quarter financial report after Thursday's trading, and both revenue and profit exceeded analysts' expectations. However, the company's outlook for the second quarter was lower than Wall Street's expectations, leading to a decline in the share price.
Intel said it expects revenue of $12.5 billion to $13.5 billion in the second quarter. Analysts had expected revenue of 13.63 billion dollars in the next quarter.
Intel hopes to launch a new Gaudi 3 AI accelerator to challenge competitors Nvidia and AMD, so as to expand its AI market share, and also hopes to attract consumers and enterprise customers through its AI PC product line.
Intel reported adjusted earnings per share of $0.18 and revenue of $12.72 billion. According to the consensus data prepared, Wall Street had expected earnings per share of 13 dollars and revenue of 12.71 billion dollars. The company reported a loss of $0.04 per share and revenue of $11.7 billion in the same period last year.
Intel is transforming from its own chip design and manufacturer into a chip manufacturer for third-party customers. So far, the company has revealed that Microsoft will be one of its first customers because the Windows operating system manufacturer is seeking to develop its own custom chips.
The first quarter was the first time Intel announced earnings under its new corporate structure. The company currently reports the revenue of its customer computing group, data center and artificial intelligence, as well as the network and edge divisions under Intel's product division. Altera, Mobileye and Other now belong to all other departments, while Intel's OEM business belongs to Intel's OEM department.
The revenue from OEM comes from the production of Intel and third-party chips. However, while announcing the restructuring, Intel also disclosed that its OEM business lost $7 billion last year.
This will enable Intel to compete directly with TSMC, the world's largest chipmaker. However, some people doubt that the third-party OEM business will always be an important source of income.
Intel hopes to take advantage of the AI boom in the personal computer market to launch a new core super processor. These chips have built-in neural processing units (npus), which are designed to run artificial intelligence models on laptops rather than on the cloud. The idea is that you can use AI applications without having to connect to the network or share your data.
AMD, Intel's main competitor in the field of personal computers, is also providing its own AI PC chips, while Nvidia said that laptops running its chips are also considered AI PCs. On Wednesday, Qualcomm launched the Snapdragon X Plus chip and the previously announced Snapdragon X Elite as potential competitors of Intel and AMD.
Qualcomm claims that its chips can surpass some chips of Intel Core Ultra and AMD in terms of performance and battery life. The company's new processor will go on sale later this year.
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