The chipmaker Intel reported lower earnings Wednesday — reflecting the worldwide trend of dwindling personal computer sales.
Intel’s net income fell about 28 percent to $2 billion from the same quarter a year ago.
Intel’s Chief Executive Brian Krzanich said, “Intel was slow to respond to the ultra mobile PC trend.”
Krzanich explained, “The traditional PC market segment is down from our expectations at the beginning of the year while ultra mobile devices like tablets, are up.”
Speaking in his first earnings conference call since taking the job, he says he’s more confident than ever about the company and Intel will leave no computing opportunity untapped.
Krzanich added, “There will always be another next big thing. It’s our job to continue to scan for emerging trends, unlocking, participating in, and shaping these nascent markets.”
Intel stock dropped about four percent in after hours trading, to $23.19.
Intel employs close to 17,000 people in Oregon.
Portland investment advisor Bill Parish, who owns Intel stock, is not worried.
Parish said, “The level of innovation and the speed at which they’re moving is just terrific. But in this era of Wall Street, responding to every individual quarter. That makes no sense to me as an investment adviser. So I think, overall I think they’re making all the right moves.”
He says products like Intel’s new chips are extremely powerful and need less energy to run. Parish is also pleased to see Intel is no longer as reliant on making chips for Microsoft Windows. It now has chips for everything from the Google Chromebook to Samsung’s Tizan phone and various Apple products.