第三季 Meets Expectations but 第四季 Outlook Cautious
英特爾 reported 第三季 results on 二十九日, with adjusted EPS of 零點五二美元, beating consensus of 零點四零美元, revenue up 百分之二十一 year-on-year to 一百六十五點一億美元, broadly in line with expectations. However, the company's 第四季 outlook was relatively conservative, guiding revenue of only 一百五十億至一百六十億美元, EPS of about 零點二五美元, and gross margin falling to 百分之三十八, well below 第三季's 百分之四十四點一, raising market concerns over future profitability.
Hit by the weaker-than-expected guidance, 英特爾 shares plunged 百分之二十八點五八 on 三十日, the worst single-day drop since 一九七零年代, putting further pressure on CEO 陳立武's ongoing turnaround plan.
以色列 Plant Incident Adds to Operating Pressure
In addition to weak 個人電腦 market demand and rising memory costs, the 以色列 plant incident has become a source of operating pressure. 英特爾's 基耶蓋特 wafer fab in 以色列 suffered an explosion in 十月, killing 二人 and seriously injuring 一人, forcing a shutdown of about 二週. CFO 辛斯納 said the incident is expected to reduce revenue by about 六億美元 over the next 二季, including a reduction of about 三億美元 in 第四季, with gross margin hit by about 二百個基點.
Analyst Contrasts 台積電 to Highlight Execution Gap
Semiconductor analyst 陸行之 noted that 英特爾 currently faces multiple pressures including rising memory prices, weak 個人電腦 demand, the 以色列 plant shutdown, and ABF substrate shortages, with data center chip production also affected, which will indeed weigh on 第四季 revenue, gross margin and EPS. However, he also questioned that 台積電's customers face the same weak 個人電腦 demand and substrate supply issues, yet 台積電 did not cut its guidance. He believes that as the two companies face similar industry headwinds but deliver different operating performance, the key may lie in execution, product competitiveness, and customer diversification.