Just heard Steve Shakespeare from Intel defending their positioning in Radio4. I know he has a job to do but sometimes admitting you have problems gives you more credibility and therefore gives us more confidence that you know what to do to recover. According to Shakespeare, ultrabooks and Windows 8 will save the Intel day. To say I have my doubts is a serious understatement. Of course, they both have their place but mobile devices, like tablets and smartphones, rule the market at the moment and Intel is an also-ran here.
Intel’s Q4 results, announced last night, showed revenues down 3% yoy which contributed to a 15% decline in profits in 2012 compared with 2011. In a final ignominy, in after hours trading Intel shares fell 5% which means that, at $110b, Qualcomm has overtaken Intel in market value.