Intel has released their fourth-quarter net income numbers from 2007, only to disappoint investors. Their Q4-2007 net income rose 51% on record sales of their microprocessors and chipsets. This, however, fell short of Wall Street expectations on signs of a weakening demand for personal computers. The stock fell over 15% in after-hours trading. This after dipping to $19.38 during late trading and closing at $22.69.
Chief Executive Paul Otellini said, “We enter 2008 with the best combination of products, silicon technology and manufacturing leadership in our history.”
Intel reported their net income at $2.27billion or 38 cents a share for Q4-2007. This compared to $1.5billion or 26 cents a share from Q4 of 2006.