According to foreign media Seeking Alpha this 6th news, Intel CFO David Zinsner said at the UBS event, customers digesting inventory should not end at the end of this year, is likely to continue until 2023.

Zinsner also pointed out that the world is facing economic downturn. In view of this, Intel can not be clear that the semiconductor industry in 2023 Q1 there are signs of recovery. Intel is still dealing with customers to clean up inventory actions, perhaps not at the end of this year, will continue into next year, "coupled with the general headwinds in almost all regions, should not be better than the same period in the past".

Mizuho Securities technology analyst Jordan Klein believes that Zinsner's remarks may be a precautionary shot in advance, implying that Intel's 1Q next year may be about 5% lower than analysts' estimates, with gross margins and profits likely to be less than expected. He believes that Intel shares will encounter downside risk in the coming weeks.

It is reported that Intel announced its fiscal year 2022 third-quarter earnings in October, lowering its capital expenditure forecast for the fiscal year to $25 billion from the previous $27 billion and warning of job cuts.

source：aijiwei