Although Intel Corporation (INTC) reported fourth quarter results that beat Wall Street expectations on both the top and bottom lines, the report failed to impress some investors. Epistrophy Capital Research chief market strategist Cory Johnson and head of Citizens JMP Mark Lehmann join Julie Hyman on Market Domination Overtime to weigh in on the results and share their outlooks for the company. Johnson argues that Intel continues to “make a mess,” stating, “This is not a good print.” While he acknowledges that certain areas of the business are showing incremental improvement, he notes, “This company is not what it used to be, and it is not revered by the startups and by the companies that are doing cutting-edge things in Silicon Valley.” He emphasizes that, although we’re in a new era of technology, Intel may be “bottoming out” and will need a strong strategy from its next CEO to turn things around. Lehmann points out that “it’s really hard for tech companies to reinvent themselves,” stressing that Intel must target high-growth markets and be “relentless” in identifying those opportunities. “This is not a new epiphany that this company is falling behind,” Lehmann says. “It’s been going on slowly … and it’s been happening for a long time.” To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
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