INTEL growth estimates cut -- but no jobs yet in high-tech 'recovery'?!?!

This story got drowned out last week.

What I find interesting is they are already cutting high-tech growth estimates--and there has yet to be job growth for the supposed "recovery", or in the economy at large. Imagine another recession showing up soon? That would mean workers get to be unemployed for TWO recessions?

***

Banc of America said it reduced its estimates for Intel's (nasdaq: INTC - news - people ) first-quarter revenue and earnings per share estimates "to reflect weaker-than-expected notebook PC demand." The research firm cut its quarterly revenue estimate to $8.09 billion from $8.27 billion, and its earnings per share estimate to 26 cents from 28 cents. Citing its own channel checks, Banc of America said it now expects Taiwanese notebook shipments to decrease 12.9% sequentially in the first quarter

http://www.forbes.com/markets/2004/02/13/0213automarketscan02.html?partner=yahoo&referrer=

[Taeger]

1. Probably because ....

That's probably because they're outsourcing all those "high-tech" jobs to India and China. :wtf:


BTW, Bank of America is distilled evil. They should be called the Bank of Benedict Arnold (Outsourcing, BCCI, etc...).

2. Yes, but...

You missed my point, slightly...

The claim is that "The Bush tax cuts are just around the corner..."

-BUT-

Here we already have growth cuts in a "strong" recovery, and there were never any job additions in the US...

Job cuts usually come when growth slows down (after having hired). The cycle usually goes...

1. "growth and hiring"
2. "less growth, and less hiring, or laying off"

We seem to have missed part of the first step!

Dan

[madrchsod]

3. one of the shopping channels

had about 400 notebooks that were from a cancelled order from a mjor us business. thse notebooks had every dam thing you could sqeeze in it. they were selling them dirt cheap for what they had in them...not going to be a good year..wal mart is hiring...

4. Egad, Best Buy is probably loaded with inventory

Everybody made the damn laptops.

Guess what--those big-screen TVs are the next flood of expensive unsold inventory!

Best Buy just announced "extended selling hours"...

Best Buy Extends Weekend Store Hours Nationwide
Monday February 16, 11:37 am ET
Extended Weekend Hours to Meet Customer Needs

MINNEAPOLIS--(BUSINESS WIRE)--Feb. 16, 2004--Best Buy today announced extended weekend hours at Best Buy stores. The new weekend store hours, effective immediately

http://biz.yahoo.com/bw/040216/165290_1.html

[54anickel]

5. Wow, guess there's the booming job market then. Retail sales selling

excess manufactured crap during expanded hours.
Hell of a recovery, ain't it?

6. I'll just bet they have extra 5,000 dollar plasma TVs

Along with the unsold PCs...

I'll bet they have some of them big plasma TVs.

That will keep Best Buys doors open reallllly late. The WORST best-kept secret!

[54anickel]

7. Damn, wish I had a job, I've always wanted one of them!! n/t

8. Wait a few weeks and they'll be giving them away!

And maybe, giving away shares of Intel, Sony, etc.?