All of us here are used to seeing the usual bad news coming out of the world of AMD, but it's kind of unprecedented to hear of Intel having problems, especially problems large enough that they are canning 11% of their entire workforce. Speaking of AMD, if things are this bad at Intel........
Oh and as far as Intel beating estimates for this quarter? Yeah, some are calling financial shenanigans on that one!
We also know Intel's just announced earnings beat on the bottom line as EPS came in at $0.54, above the $0.49 expected.
How did INTC "beat"? The same way IBM "beat" yesterday: instead of using the same tax rate as a year ago, when it had an effective tax rate of 25.5%, this quarter the tax rate was down 7.1% to just 18.4%.