Fare ye well!
Intel (INTC:NASD) reports a couple of pennies better and beats revenues by 90 beans. Phoebe was right--it was better than expected--so the question is now one of expectations. I couldn't find one trader who didn't already know that this would be a solid quarter.
The bull case is good looking charts and the "climb aboard" thesis (panic phase). The (initial) bear case is pin risk to 30, a marginally disappointing narrowing of the capital expenditure forecast (they shaved a bit more off the top end) and the "sell the news" crowd.
My initial reaction was that it "wasn't enough" (on a trading basis relative to expectations) but there is clearly something for everyone. One thing for sure--the gorillas in the midst (who know that EVERYONE is keying on Intel) will do everything they can to keep a bid in the stock. That's the way they play this game.
I'm jammin' and jugglin' so lemme take this opportunity to wish everyone a peaceful evening. In this business, we all kill ourselves to make cake and wear our performance like a badge of honor. Just remember-- the definition of a good man (or woman) is never measured by the size of one's wallet. The truest profit lies within.
See you in the ayem, grasshopper.
Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at email@example.com.
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