There’s something of an apocalyptic mood in the PC market right now, with sales plummeting towards the end of last year. This has negative consequences for companies like Microsoft, but it is a downright catastrophe for Intel. Because the chip manufacturer is of course closely tied to these sales and has now suffered a record-breaking crash.
Intel’s crappy 2022
Because Intel gave his last night quarterly figures known for the fourth quarter of the previous year. These tend to be good towards the end of the year, since a company like Intel also benefits from the Christmas business. But in the fourth quarter of 2022, Intel posted sales of $14 billion, down 32 percent from the quarter a year earlier. In terms of net profit, Intel even slipped into the red, minus $700 million.
Seen over the year as a whole, things are only slightly better: Intel announced combined sales of 63.1 billion for 2022, a minus of 20 percent. The profit was eight billion dollars, so the semiconductor manufacturer was only just able to stay in the black – but the decline here was a whopping 60 percent.
“We Stumbled”
In short: Many numbers represent all-time negative records. And the outlook is anything but rosy, even if Intel boss Pat Gelsinger tried to give a positive spin in the subsequent conference call with investors: “We stumbled, yes, we have shares lost, we’ve lost momentum, but we think that will stabilize this year.” However, the latter is certainly optimistic, because an early recovery of the PC market is not to be expected.
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