Episode summary
Intel Gives Weak Forecast After Supply Shortages Hurt Sales | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · 36 min · Hosts: Carol Massar, Tim Stenovec · Guests: Ivan Feinseth, Max Chafkin, Joe Feldman, Craig Allen
Summary
Intel’s weak first-quarter forecast was the main market story, with management blaming supply shortages and poor manufacturing yields for a revenue outlook of $11.7 billion to $12.7 billion and breakeven adjusted EPS, both below Wall Street’s expectations. The host and a guest discussed whether the stock’s pullback mattered more than the quarter, and the guest argued this is a company-level turnaround story tied to AI data-center demand, AI PCs, government support, and a broader push to rebuild U.S. semiconductor manufacturing.
The guest also said Intel’s foundry ambitions could become a major opportunity if the company keeps winning customers beyond its own product divisions. He argued the stock has already run hard and could be due for a pullback, but still framed any weakness as a buying opportunity if execution improves and revenue, margins, and cash flow ramp.
Later, the show turned to Elon Musk’s surprise Davos appearance, where he outlined aggressive timelines for Tesla humanoid robots and self-driving software. A Bloomberg Businessweek senior reporter pushed back on the realism of those timelines, arguing the gap between prototypes and safe mass deployment remains large. The episode closed with a retail check-in: consumers still look resilient, but spending is increasingly split between stronger affluent shoppers and more pressured middle-income households.
Key takeaways
- Intel’s guidance disappointed because supply shortages and weak yields limited sales, not because demand disappeared, according to the host’s framing and the guest’s view.
- The guest said Intel is becoming a different company under Lip-Bu Tan, with AI, foundry expansion, and U.S. industrial policy all supporting the turnaround.
- The guest argued Intel’s stock could still be a buying opportunity on pullbacks, even after its run from about $20 to $55.
- Max Chafkin said Tesla’s humanoid-robot and self-driving timelines sound aggressive, but commercialization remains far from solved.
- Joe Feldman said consumers still look resilient overall, but spending is being driven more by affluent shoppers than by the middle-income customer.
Notable quotes
“It is a major shift in the company. It's and they have uh I think turned a major corner”
“they are well positioned to benefit from AI data center demand, AI computer demand, their partnership with Intel, money from the US government”
“I think it may have gotten a little bit ahead of itself and it may pull back”
“I don't think it's a realistic thing for any humanoid robot, whether it's Elon Musk's humanoid robots or not”
“So far, the consumer seems pretty resilient. We continue to hear that word from all the retailers we speak with”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — This is Bloomberg Business Week Daily, reporting from the magazine that helps global leaders stay ahead with insight on the people, companies, and trends shaping today's complex economy. Plus, global business, finance, and tech news as it happens. The Bloomberg Business Week Daily podcast with Carol Masser and Tim Stenc on Bloomberg Radio.
Yeah, I want to bring in Ivan Feinsteth, research director and chief investment officer at Tigers Financial Partners. The firm has more than $500 million under management. Uh Ivan has a buy rating on the company's stock. Ivan, does does just very like your immediate knee-jerk reaction to this does your does your rating Well, I know you can't answer that question, but Yeah,
Your knee-jerk reaction. I'm not even going to ask it. Your knee-jerk reaction to the numbers here. You're shaking your head.
It's not this quarter. It's not a quarterly story. It is a major shift in the company.
It's and they have uh I think turned a major corner, but the stock has also run up significantly from a low of 20. It hit $55. So, I think it may have gotten a little bit ahead of itself and it may pull back.
But I think everything that's going on under the new CEO Lip Boutan is uh is as planned. I mean they are well positioned to benefit from AI data center demand, AI computer demand, their partnership with Intel, money from the US government. So they are plenty flush to uh invest in all of their key growth initiatives.
Um so fundamentally what's changed Ivan when it comes to this company? You obviously sound really upbeat. Is it just a case of having the backdrop because you know of the United States government?
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- intel earnings guidance
- semiconductor supply shortages
- manufacturing yields
- tesla and elon musk
- consumer spending trends
Companies and tickers mentioned
- INTC
- TSLA
- Intel
- Tesla
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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