Intel Corp. (NASDAQ: INTC) had already given the indications that the tech market was bottoming out. At today’s investor meeting, CEO Paul Otellini, said hat he believes conditions seem to be improving further. He even noted that compared to even last month’s outlook that business is a little better than it had expected. We covered a snapshot of what we considered the new long-term base-building and trends.
The presentation noted that Intel is also now able to operate profitability in areas it could not because of its new cost structure. As far as the PC industry growth, the PC client and server TAM is expected to dip under 300 million units in 2009 but will grow each year and approach 400 million units in 2012.
A new area we heard more about were architecture migration to 32 nanometers and the newer SOCs or system-on-a-chip, and this continues its recent venture (an M.O.U. actually) we covered with Taiwan Semiconductor (NYSE: TSM).
There is much more data out there and you can see the slide shows and hear the webcasts for Tuesday and Wednesday here.
Intel shares closed down 1% at $15.21 today and was up over 3% at $15.68 on last look in the after-hours session. Intel traded as high as $16.74 earlier this month before its dividend was paid out, and over the last year its range has been $12.05 to $25.29.
Be advised that Wednesday is the day we are supposed to get the E.U. antitrust fine that is supposed to go in favor of Advanced Micro Devices (NYSE: AMD), which closed up 3% today and is up almost 2% at $4.42 in after-hours trading.
JON C. OGG
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