Intel Corporation (NASDAQ:INTC) has surprised everyone with its earnings and the PC upgrade cycle helped the company to an extent. Not just that, Intel has also started focusing on tablet and mobile devices market which is on the rise now.
Edward Snyder, Managing Director at Charter Equity Research, was on CNBC and he discussed how these earnings might help Intel Corporation (NASDAQ:INTC). He feels that the stock is on a run and that investors are expecting this trend is going to continue. He said that the new CEO innovated and took the mobile and tablet market seriously.
“One of the problems they have been struggling with is, under the previous CEO, they ignored the tablet market and that came to bite them a bit” Snyder said.
Intel Corporation (NASDAQ:INTC) says that the worst is over for the battered PC industry and good days are ahead of them. Snyder said that it was interesting to see the company admitting that they are not growing anymore as they were few years before. The company also said that it is going to become a cash repatriation company rather which has been a trend with a lot of “old school” semiconductor companies recently.
“One of the interesting pats of the report is, they took a big step to admitting they are no longer a growth company, that they are going to become a cash repatriation company. “ He stated.
Snyder said that the company saying that it is no longer a growth company and stating that it is cash repatriation Company was shocking to him especially when it was one of the crown jewels until recently. The analysts felt that Intel Corporation (NASDAQ:INTC) telling that they don’t have much to do with the money doesn’t seem good and they also compared it with Apple Inc. (NASDAQ:AAPL) because a company like Apple Inc. (NASDAQ:AAPL) would never have said that.