In this video, I will be talking about Intel (INTC -5.20%) and the headwinds the company is currently experiencing.
- Intel is cutting Alder Lake CPU prices because of weaker PC demand.
- Intel's data center chip Sapphire Rapids is delayed again.
- The company also delayed the Ohio chip factory groundbreaking in the hopes of putting pressure on the government to pass the CHIPS Act.
- The company expects Q2 revenue to come in at $18 billion, down 3% year over year (YOY).
- Gross margin dropped 51%, down 8.8 percentage points YOY, and EPS dropped to $0.70, down 49% YOY.
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*Stock prices used were the closing prices of July 5, 2022. The video was published on July 6, 2022.
