News Intel Reports Healthy First-Quarter Results

But according to ExtremeTech they're worried about the somewhat excessive amount of inventory they've got on hand:

Intel Corp. reported significant revenue growth for the first quarter compared to a year ago, as the chip company prepares for volume shipments of several products. However, inventory concerns worried some analysts.
Intel, Santa Clara, Calif., reported net income of $1.7 billion on revenue of $8.1 billion for the first quarter. The company's net income and revenue increased 89 percent and 20 percent, respectively, compared to a year ago; the company's revenue dipped by 7 percent versus the fourth quarter, and net income declined 20 percent.

As expected, Intel's success was founded on microprocessor sales, which rose 22 percent from a year ago to $6 billion. The Intel Architecture Group, which includes microprocessors, chipsets, and motherboards, recorded $7.03 billion in total revenue, and $3.0 billion in profits. Still, Intel's primary Intel Architecture business unit was the only unit that reported a positive operating income, indicative that Intel's communications reorganization has yet to bear fruit.

Intel's earnings were also affected both by its recent settlement with Intergraph Corp. as well as a improvement in yields that pushed the company's inventory levels to their highest point in several years., $2.8 billion.

Full story here

So, they'll be ditching all that stock at rock bottom prices in the near future, will they? Would that be "As cheap as Chips"?