Bloomberg News

Intel Sees No Change in Demand From Large Corporations, CEO Says

May 10, 2012

Intel Corp. (INTC:US) Chief Executive Officer Paul Otellini said demand from large corporations is in line with the company’s forecasts, including in Europe, countering comments yesterday from Cisco Systems Inc. (CSCO:US)

“We haven’t seen any change in enterprise in Europe,” Otellini said today at a meeting for investors in Santa Clara, California. “The year is playing out just as we expected. Enterprise is good. It’s not fantastic.”

Cisco yesterday forecast quarterly sales and profit that missed analysts’ estimates. Cisco CEO John Chambers said big companies were hesitant to spend, and the company was concerned about demand in Europe.

Otellini said Chambers’s comments may reflect competitive issues rather than the weakness in Europe that Cisco cited.

“I don’t see what he’s seeing,” Otellini said.

To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.net

To contact the editor responsible for this story: Jillian Ward at jward56@bloomberg.net


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Companies Mentioned

  • INTC
    (Intel Corp)
    • $34.82 USD
    • -0.35
    • -1.01%
  • CSCO
    (Cisco Systems Inc)
    • $25.2 USD
    • -0.02
    • -0.08%
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