Pat Gelsinger (CEO)
- Mobileye had the best quarter ever.
- 8 new design wins for Mobileye self-driving technology.
- Partnership with Udelv for L4 self-driving in 2023.
- Rocket lake and Ice lake launched, Tiger lake – H ahead of schedule
- IDM 2.0 announced -> Incredible response.
- Engagement with 50 potential customers as of now (Intel Foundry Services)
- "It is amazing to be back at Intel and Intel is back"
- 4 superpowers for growth > Cloud, Connectivity, AI, Intelligent Edge
- Expects sustained growth for a decade or more.
- Q1 2021 highest PC sales in history, up 30% up in Q1
- 400 M 4 years old PC that poses a good pc refresh opportunity.
- 10nm to take over 14nm in volume in 2H 2021.
- Ice lake is only x86 CPU with built-in AI acceleration. Provided 74% improvement gen over gen
- Significant adoption of OneAPI.
- Partnership with Google for deploying 5G workloads.
- Working with automakers to address the auto-chips shortage.
- Domestic chip manufacturing critical for national security
- 7nm progressing well.
- Alder lake currently sampling, shipping in the second half.
- In the next couple of weeks, Meteor lake (first 7 nm CPU from Intel - 2023) compute tile tape in.
- Sapphire rapids (next Xeon CPUs) production starts end of 2021. Ramp in 2H2022.
- 2024, 2025 technology plans underway.
- 2000 engineers hired so far in 2021. Several thousand more coming in before the year ends
George Davis (CFO)
- PC notebook and Mobileye set revenue records.
- Q1 2021 revenue - $18.6B exceeding guidance by $1.1B. -> Flat YoY
- Gross margin – 58.4% - Down 6% YoY
- EPS - $1.39 exceeding guidance by $0.29 -> Down 1% YoY
- $5.5B cash generated from operations, $1.6B free cash flow
- $2.4B stock repurchase
- FY 2021 guidance
- $72.5B revenue > down 1% YoY
- 56.6% gross margin > down 3% YoY
- EPS $4.6 > down 10% YoY
- CapEx - $20B (new foundaries)
- Cashflow - $10B
- Govt data center business recovering from Covid lows.
- Stock buybacks lower from now on, more money will go to investment in the business.
- Committed to growing dividends.
- Increased operating expenses due to Xeon production ramp and 10nm ramp, 10nm cost improving
Submitted April 22, 2021 at 08:10PM by Dwigt_Schroot https://ift.tt/3dIOrKQ
