Late Thursday, the chipmaker posted worse-than-expected sales results with adjusted revenue of $18.1 billion in the quarter ended in September, up 5% compared with the prior year, and below the $18.24 billion median estimate of analysts surveyed by Bloomberg. While earnings for the quarter came in above estimates, that was overshadowed by a disappointing outlook for the current quarter. After the results, Intel shares fell 9%.Investors are right to be worried over the company’s fundamental predicament. The reality is the chipmaker’s problems are only going to get more challenging. In a robust industry environment where most of its peers are thriving, Intel is now projecting roughly flat growth for 2021. In contrast, Advanced Micro Devices Inc. and Nvidia Corp., for example, are expected to grow sales by more than 50% this year.
