Craig Barrett, chief executive officer of the world's biggest semiconductor company, said he has no idea how long the slowdown will last. The Santa Clara, California-based chip maker has warned on its earnings four times since Labor Day, and its stock has lost about 60 percent of its value since last September. The forecast is significantly lower than earlier expectations for a decline of 15 percent. More troubling, however, is that Intel will not give guidance for the rest of the year until after it releases its first-quarter results on April 17th. At one point in the interview, Barrett used some gallows humor in trying to explain the current economic situation faced by his and other high-tech companies.
Analysts are similarly baffled about the direction of the market and the health of the economy.
I should have gone lower, based on what I'm hearing from the company. Months Of Trouble Sherlund added that because Intel is such a powerful company, the Internet and the rest of the high-tech sector could be in for months of trouble. David Wong, an analyst with UBS Warburg, told NewsFactor that he is remaining bullish on Intel. Separately, Intel announced some good news. The non-PC devices, called Dot.