英特爾 (INTC) 2013 Q4 法說會逐字稿

完整原文

使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主

  • Operator

    Operator

  • Good day, ladies and gentlemen and welcome to the Intel Corporation fourth-quarter 2013 earnings conference call.

    美好的一天,女士們、先生們,歡迎參加英特爾公司 2013 年第四季財報電話會議。

  • (Operator Instructions)

    (操作員說明)

  • As a reminder, today's conference is being recorded.

    提醒一下,今天的會議正在錄製中。

  • I would now like to turn the conference over to Mark Henninger, Director of Investor Relations.

    我現在想將會議交給投資者關係總監馬克‧亨寧格 (Mark Henninger)。

  • Please go ahead, sir.

    請繼續,先生。

  • - Director of IR

    - Director of IR

  • Thank you, Jamie, and welcome, everyone, to Intel's fourth-quarter 2013 conference call.

    謝謝傑米,歡迎大家參加英特爾 2013 年第四季電話會議。

  • By now you should have received a copy of our earnings release and the CFO commentary that goes along with that.

    到目前為止,您應該已經收到了我們的收益發布以及隨之而來的財務長評論的副本。

  • If you've not received both documents, they're currently available on our investor website, INTC.com.

    如果您尚未收到這兩份文件,目前可以在我們的投資者網站 INTC.com 上取得它們。

  • I'm joined today by Brian Krzanich, our CEO; and Stacy Smith, our Chief Financial Officer.

    今天我們的執行長 Brian Krzanich 也加入了我的行列。和我們的財務長史黛西史密斯。

  • In a moment we'll hear brief remarks from both of them followed by Q&A.

    稍後我們將聽到他們兩人的簡短發言,然後是問答。

  • Before we being, let me remind everyone that today's discussions contain forward-looking statements based on the environment as we currently see it, and as such does include risks and uncertainties.

    在我們開始之前,讓我提醒大家,今天的討論包含基於我們目前所看到的環境的前瞻性陳述,因此確實包含風險和不確定性。

  • Please refer to our press release for more information on the specific risk factors that could cause actual results to differ materially.

    請參閱我們的新聞稿,以了解有關可能導致實際結果出現重大差異的特定風險因素的更多資​​訊。

  • Also when, during this call, we use any non-GAAP financial measures or references, we will post the appropriate GAAP financial reconciliation to our website, INTC.com.

    此外,當我們在本次電話會議期間使用任何非 GAAP 財務指標或參考時,我們將在我們的網站 INTC.com 上發布適當的 GAAP 財務調節表。

  • With that, let me hand it over to Brian.

    就這樣,讓我把它交給布萊恩。

  • - CEO

    - CEO

  • Thanks, Mark.

    謝謝,馬克。

  • Q4 was a solid finish to a year of transitions, both for the computing market and for Intel.

    對計算市場和英特爾來說,第四季是這一轉型年的堅實收官。

  • We spent the year building a foundation in important growing segments of computing and as a result we are better positioned as we enter 2014.

    我們花了一年的時間在計算的重要成長領域奠定了基礎,因此,在進入 2014 年時我們處於更好的位置。

  • Importantly, the beat rate of innovation inside the Company has also improved.

    重要的是,公司內部的創新節奏也有所提升。

  • I'll touch on each of these themes but I'd like to start with our results.

    我將討論每個主題,但我想從我們的結果開始。

  • The Company's revenue was down 1% for the year, driven by a declining PC TAM.

    由於 PC TAM 下降,該公司今年的營收下降了 1%。

  • The PC Client Group was down 4% for the year, but the business began to stabilize and actually grew a bit in the fourth quarter, achieving all-time record i5 and i7 unit shipments.

    PC客戶端業務全年下降4%,但業務開始穩定,並在第四季度出現小幅增長,i5和i7出貨量創下歷史新高。

  • The desktop business was particularly strong in Q4, growing 11% over last year.

    桌面業務在第四季度尤其強勁,比去年增長了 11%。

  • In the Data Center, we finished the year up 7% with record server units and revenue.

    在資料中心,我們全年成長了 7%,伺服器數量和收入創歷史新高。

  • Cloud was up 35%, storage was up 24%, and high-performance computing was up 18%.

    雲端成長了 35%,儲存成長了 24%,高效能運算成長了 18%。

  • Enterprise, however, fell short of our expectations for the fourth quarter and the year, as we over-estimated the rate of recovery among corporate buyers.

    然而,由於我們高估了企業買家的復甦速度,Enterprise 的第四季和全年業績未達到我們的預期。

  • In our other businesses, the intelligent systems business, we saw growth of 21%, with retail up 16% and transportation up 21% for the year.

    在我們的其他業務,即智慧系統業務中,我們的成長了 21%,其中零售成長了 16%,運輸成長了 21%。

  • Networking grew 31% for the year.

    網路業務今年成長了 31%。

  • And rounding out the list our NAND and McAfee businesses grew15% and 4%, respectively, both achieving record revenue.

    我們的 NAND 和 McAfee 業務分別成長了 15% 和 4%,營收均創歷史新高。

  • When I spoke with you in November, I shared my vision.

    當我十一月與你們交談時,我分享了我的願景。

  • If a device computes, it does it best with Intel, for the Internet of things, for the data center.

    如果設備可以計算,那麼對於物聯網、資料中心來說,英特爾的表現最好。

  • I outlined the areas that are changing to make that vision a reality.

    我概述了為使這一願景成為現實而正在改變的領域。

  • Among the changes was a shift towards a more outside-in view of our industry and an intense focus on bringing innovation to market quickly.

    其中的變化包括對我們行業的看法更加由外而內的轉變,以及對快速將創新推向市場的高度關注。

  • Last week at CES, there was evidence of our progress as we demonstrated technologies that weren't on our road map just six months ago.

    上週在 CES 上,我們展示了六個月前路線圖上還沒有的技術,證明了我們已經取得了進展。

  • Technologies that we expect will be available this year.

    我們預計今年將推出技術。

  • We showed you Edison, an Intel-based platform for Internet of things in the form of an SD card.

    我們向您展示了 Edison,一個基於 Intel 的 SD 卡形式的物聯網平台。

  • We unveiled several innovative wearable solutions and we announced Intel device protection slot technology to harden IA based Androids for the enterprise.

    我們推出了多種創新的可穿戴解決方案,並宣布了英特爾裝置保護插槽技術,為企業強化基於 IA 的 Android。

  • Our disclosure in November of a new smartphone and tablet road map that will include SoFIA, our first IA SoC with integrated comms later this year is further evidence that we are innovating and bringing products to market at a faster pace.

    我們在11 月披露了新的智慧型手機和平板電腦路線圖,其中將包括今年稍後我們首款具有整合通訊功能的IA SoC SoFIA,這進一步證明我們正在創新並以更快的速度將產品推向市場。

  • Looking ahead, 2014 will be an exciting year as we build further on this new foundation.

    展望未來,2014 年將是令人興奮的一年,我們將在這個新的基礎上進一步發展。

  • We have established a goal to grow our tablet volume to more than 40 million units, with the emphasis on the value segment.

    我們制定了將平板電腦銷量增加到超過 4000 萬台的目標,重點是價值細分市場。

  • After finishing 2013 with more than 10 million units and a strong book of design wins, we're off to a good start.

    2013 年銷量超過 1000 萬台,並贏得了許多設計獎項,我們迎來了一個良好的開端。

  • We also exit the year having made important strides on our 14-nanometer process technology.

    今年結束時,我們在 14 奈米製程技術方面也取得了重要進展。

  • Yields improved significantly in Q4, putting us squarely on track to begin Broadwell production later this quarter.

    第四季度的產量顯著提高,使我們預計在本季稍後開始 Broadwell 生產。

  • Our customers and partners also continue to evolve the computing experience.

    我們的客戶和合作夥伴也在不斷發展運算體驗。

  • By the time we enter the back-to-school selling season we'll have nearly 70 unique 2-in-1 designs with outstanding battery life and performance across a range of price points and form factors.

    當我們進入返校銷售季時,我們將擁有近 70 種獨特的二合一設計,在各種價位和外形尺寸上都具有出色的電池壽命和性能。

  • And later this quarter we'll launch Ivy Bridge-EX which will bring the largest generation-to-generation improvement in MP server performance since 2010.

    本季晚些時候,我們將推出 Ivy Bridge-EX,它將為 MP 伺服器效能帶來自 2010 年以來最大的一代又一代的改進。

  • Our work to improve our velocity and position the Company for the future of computing isn't done, but our recent progress is testament to what's possible when we focus and bring all of these assets to bear.

    我們為提高公司的速度和為公司的未來計算定位所做的工作尚未完成,但我們最近的進展證明,當我們集中精力並利用所有這些資產時,一切皆有可能。

  • We're building on a foundation upon which we'll compete for years to come and we're beginning this year in a better position than we began last year.

    我們正在建立一個基礎,我們將在此基礎上進行未來幾年的競爭,並且我們今年開始的位置比去年開始時更好。

  • With that, let me turn the call over to Stacy.

    接下來,讓我把電話轉給史黛西。

  • - CFO

    - CFO

  • Thanks, Brian.

    謝謝,布萊恩。

  • The fourth quarter came in consistent with expectations with a return to financial growth and was a solid ending to a challenging year.

    第四季的財務成長符合預期,為充滿挑戰的一年畫上了圓滿的句號。

  • For the fourth quarter, revenue came in at $13.8 billion, up 3% from a year ago.

    第四季營收為 138 億美元,年增 3%。

  • PC Client Group revenue was flat from a year ago.

    PC客戶端集團營收與一年前持平。

  • Our Data Center Group grew 8% from a year ago.

    我們的資料中心集團比一年前成長了 8%。

  • And relative to our expectations at the beginning of the quarter, we saw higher PC Client Group revenue, partially offset by lower growth in our Data Center Group.

    相對於我們在本季初的預期,我們看到 PC 用戶端集團營收較高,但部分被資料中心集團較低的成長所抵銷。

  • Gross margin of 62% was flat to the third quarter, and 1 point above our guidance.

    毛利率為 62%,與第三季持平,比我們的指導值高 1 個百分點。

  • Operating income for the fourth quarter was $3.5 billion, up 12% from a year ago.

    第四季營業收入為35億美元,較去年同期成長12%。

  • Earnings per share was $0.51, up 6% from a year ago.

    每股收益為 0.51 美元,較去年同期成長 6%。

  • For full year 2013, revenue was $52.7 billion, gross margin was 60%, operating income was $12.3 billion, net income was $9.6 billion, and earnings per share was $1.89.

    2013年全年營收為527億美元,毛利率為60%,營業收入為123億美元,淨利為96億美元,每股收益為1.89美元。

  • While the PC market was down on the year, we saw the market stabilize in the back half of the year with fourth quarter PC units up from a year ago.

    雖然個人電腦市場較去年同期下滑,但我們看到下半年市場趨於穩定,第四季度個人電腦銷量較去年同期成長。

  • Additionally, we saw strong tablet growth in the back half of the year and inclusive of PC and tablets, our unit growth in the fourth quarter was up almost 10% from a year ago.

    此外,我們看到下半年平板電腦的強勁成長,包括個人電腦和平板電腦,我們第四季的銷量年增了近 10%。

  • We decreased inventory levels by almost $400 million in the fourth quarter.

    第四季我們的庫存水準減少了近 4 億美元。

  • And across the worldwide supply chain, inventory levels continue to be healthy.

    在全球供應鏈中,庫存水準持續保持健康。

  • Gross margin of approximately 60% in 2013 is down 2 points from 2012, driven by higher 14-nanometer factory startup costs.

    由於 14 奈米工廠啟動成本上升,2013 年毛利率約為 60%,比 2012 年下降了 2 個百分點。

  • Spending on R&D and MG&A was $18.7 billion in 2013, 35% of revenues, down from the forecast at the beginning of the year, but higher than our long-term model.

    2013 年研發與管理與管理支出為 187 億美元,佔營收的 35%,低於年初的預測,但高於我們的長期模式。

  • Operating income was $12.3 billion, down 16% year over year.

    營業收入為123億美元,較去年同期下降16%。

  • Earnings per share was $1.89, down 11% from a year ago.

    每股收益為 1.89 美元,較去年同期下降 11%。

  • The business continued to generate significant cash with almost $21 billion of cash from operations in 2013.

    該業務繼續產生大量現金,2013 年營運現金近 210 億美元。

  • Total cash balance at the end of the year was roughly $20 billion, up approximately $2 billion from a year ago.

    年末現金餘額總額約 200 億美元,比去年同期增加約 20 億美元。

  • We purchased $11 billion in capital assets, paid $4.5 billion in dividends and repurchased over $2 billion of stock.

    我們買了 110 億美元的資本資產,支付了 45 億美元的股息,並回購了超過 20 億美元的股票。

  • As we look forward to the first quarter of 2014, we are forecasting the midpoint of the revenue range at $12.8 billion, down 7% from the fourth quarter.

    展望 2014 年第一季度,我們預測營收範圍的中點為 128 億美元,比第四季下降 7%。

  • This forecast is in line with the average seasonal decline for the first quarter.

    這項預測與第一季的平均季節性下降相符。

  • We are forecasting the midpoint of the gross margin range for the first quarter to be 59%.

    我們預測第一季毛利率範圍的中點為 59%。

  • The 3 point decline from the fourth quarter is primarily driven by higher platform write-offs as we start preproduction builds of Broadwell and 14-nanometer, and overall lower platform volumes in line with seasonal trends.

    較第四季下降 3 個百分點的主要原因是,隨著我們開始 Broadwell 和 14 奈米的預生產,平台沖銷增加,以及與季節性趨勢一致的整體平台銷售下降。

  • Turning to 2014, we are planning for revenues to be approximately flat.

    展望 2014 年,我們計劃收入大致持平。

  • We expect the Data Center Group revenue to be up in the low double-digits and PC Client Group revenue to be down in the mid single-digits.

    我們預計資料中心集團營收將成長兩位數,而 PC 用戶端集團營收將下降中個位數。

  • We are forecasting the midpoint of our gross margin range at 60%, flat to 2013.

    我們預測毛利率範圍的中點為 60%,與 2013 年持平。

  • We expect startup costs to decline, partially offset by the impact of tablets as we ramp our volume and provide contra-revenue support to our customers.

    我們預計啟動成本將會下降,隨著我們增加銷售量並向客戶提供相對收入支持,部分抵消了平板電腦的影響。

  • And we are forecasting spending for the year at $18.6 billion, and expect capital spending of $11 billion, both of which are approximately flat to 2013.

    我們預計今年的支出為 186 億美元,資本支出為 110 億美元,兩者與 2013 年大致持平。

  • Within the flat spending we are advancing the strategy of the Company by shifting investments towards the data center, tablet and low-power SoCs.

    在支出持平的情況下,我們正在透過將投資轉向資料中心、平板電腦和低功耗 SoC 來推進公司策略。

  • The fourth quarter was a solid finish to a challenging year.

    第四季為充滿挑戰的一年畫上了圓滿的句點。

  • Financially, the fourth quarter of 2013 was better than the fourth quarter of 2012.

    財務方面,2013年第四季優於2012年第四季。

  • More importantly, we are making changes that continue to improve our competitive position.

    更重要的是,我們正在做出改變,以繼續提高我們的競爭地位。

  • For devices that compute, our vision is if it computes, it does it best with Intel.

    對於計算設備,我們的願景是,如果它具有計算能力,那麼英特爾將發揮最佳作用。

  • Towards that end, we are well on our way to reinventing the personal computer.

    為此,我們正在重塑個人電腦。

  • With all-in-ones, 2-in-1s, convertible and detachables, the amount of innovation in the PC market is unprecedented.

    憑藉一體機、二合一、可轉換和可拆卸的特點,PC 市場的創新數量是前所未有的。

  • Building on this leadership, we will start production wafers on Broadwell, a 14-nanometer product targeting these form factors in the first quarter.

    憑藉這一領先地位,我們將在第一季開始生產 Broadwell 晶圓,這是一款針對這些外形尺寸的 14 奈米產品。

  • In the tablet market we launched the Bay Trail SoC and have started to expand our footprint and market segment share in this growing market.

    在平板電腦市場,我們推出了 Bay Trail SoC,並開始擴大我們在這個不斷增長的市場中的足跡和細分市場份額。

  • And in the Internet of things market, we are bringing new architectures like Quark and Edison to build on our current leadership position.

    在物聯網市場,我們正在引入 Quark 和 Edison 等新架構,以鞏固我們當前的領導地位。

  • We are uniquely situated to benefit from the other end of the compute continuum as the infrastructure that supports all these devices expands.

    隨著支援所有這些設備的基礎設施的擴展,我們處於獨特的位置,可以從計算連續體的另一端受益。

  • Our Data Center business continues to see robust growth as a result of the build-out of the cloud and the explosion of devices that compute and connect to the Internet.

    由於雲端的擴展以及計算和連接到互聯網的設備的爆炸式增長,我們的數據中心業務繼續強勁增長。

  • In 2013, we extended our leadership to the high end of the data center with the launch of the Ivy Bridge-based ZN product line.

    2013 年,我們推出了基於 Ivy Bridge 的 ZN 產品線,將我們的領導地位擴展到資料中心的高端領域。

  • And at the low end of the data center we extended our leadership with the launch of Avoton, targeting the micro server market.

    在資料中心的低端領域,我們透過推出 Avoton 擴大了我們的領先地位,瞄準了微型伺服器市場。

  • We plan to build on this foundation as we launch the Haswell-based Xeon family in 2014.

    我們計劃在此基礎上於 2014 年推出基於 Haswell 的 Xeon 系列。

  • At the foundation of this innovation, we continue to advance Moore's Law faster than the rest of the industry.

    在此創新的基礎上,我們繼續比業界其他公司更快地推動摩爾定律。

  • This gives us the world's highest performance and lowest power transistors and will result in a growing cost advantage over time.

    這為我們提供了世界上最高性能和最低功耗的晶體管,並將隨著時間的推移帶來越來越大的成本優勢。

  • With that, let me turn it back over to Mark.

    有了這個,讓我把它轉回給馬克。

  • - Director of IR

    - Director of IR

  • All right.

    好的。

  • Thank you, Brian and Stacy.

    謝謝你們,布萊恩和史黛西。

  • As we move on to the Q&A, as is our normal practice, we would ask each participant to ask one question and just one follow-up, if you have one.

    當我們進入問答環節時,按照我們的慣例,我們會要求每位參與者提出一個問題,然後只進行一個後續跟進(如果有的話)。

  • Jamie, please go ahead and introduce our first questioner.

    傑米,請繼續介紹我們的第一位提問者。

  • Operator

    Operator

  • (Operator Instructions)

    (操作員說明)

  • The first question comes from Mark Lipacis from Jefferies.

    第一個問題來自 Jefferies 的 Mark Lipacis。

  • - Analyst

    - Analyst

  • Thanks for taking my question.

    感謝您提出我的問題。

  • At the Analyst Day you addressed your view on transistor density and your expectation for leadership on that vector.

    在分析師日,您闡述了您對晶體管密度的看法以及您對該領域領導力的期望。

  • But I have to say, discussing that idea with investors, there's a consensus view that seems to be that Intel has an inherent wafer cost disadvantage relative to TSMC that neutralizes, or more than neutralizes your transistor density advantage.

    但我不得不說,在與投資者討論這個想法時,有一個共識,即英特爾相對於台積電具有固有的晶圓成本劣勢,這會抵消或超過抵消晶體管密度優勢。

  • The argument is that TSMC ships more wafers and therefore has better purchasing power than you and has Lower labor costs, and net-net they have a big, huge advantage on wafer costs that you should have too hard of a time to overcome.

    爭論的焦點是,台積電出貨的晶圓更多,因此比你有更好的購買力,勞動力成本更低,而且他們在晶圓成本上有很大很大的優勢,你應該很難克服。

  • My question is do you think that's a fair view?

    我的問題是你認為這是公平的觀點嗎?

  • Can you help us talk to the relative elements of the wafer costs and how you think you can compare?

    您能幫我們談談晶圓成本的相關因素以及您認為如何進行比較嗎?

  • Any kind of help that you could give us on the cost dimension would be extremely helpful.

    您在成本方面為我們提供的任何幫助都將非常有幫助。

  • Thank you.

    謝謝。

  • - CEO

    - CEO

  • Sure.

    當然。

  • This is Brian.

    這是布萊恩。

  • I think the first thing to remember is that what really counts in all of this is transistor cost.

    我認為首先要記住的是,這一切中真正重要的是晶體管成本。

  • And what we really talk about in our Moore's Law curves, and when we talk about transistor density, is driving a consistent cost reduction of the transistors.

    當我們談論晶體管密度時,我們在摩爾定律曲線中真正談論的是推動電晶體成本的持續降低。

  • And so wafer cost is one segment of that.

    因此,晶圓成本是其中的一部分。

  • I'm not going to comment on TSMC's wafer cost versus our wafer cost, but we feel confident that our relative level of scaling and our internal wafer costs are such that we believe we have a leadership position in transistor costs.

    我不會評論台積電的晶圓成本與我們的晶圓成本,但我們有信心,我們的相對規模和內部晶圓成本水平使我們相信我們在晶體管成本方面處於領先地位。

  • When you're talking about any product, whatever it is, a logic product that's a low-end microprocessor for a wearable or an internet of things, or high-end Xeon server, you're talking about the number of gates and hence the number of transistors required to put that logic device together.

    當您談論任何產品時,無論它是什麼,無論是用於可穿戴設備或物聯網的低端微處理器的邏輯產品,還是高端至強伺服器,您都在談論門的數量,因此談論的是閘的數量。

  • Doesn't matter whose technology it's on to some extent.

    在某種程度上,它採用誰的技術並不重要。

  • Doesn't matter what node.

    什麼節點都沒關係。

  • And so the more cost effective those transistors are, whether it's 500 million or 3 billion, the lower the product cost is.

    因此,這些電晶體的成本效益越高,無論是5億個或30億個,產品成本就越低。

  • That's really what we focus on and why we focus on transistor costs.

    這確實是我們關注的重點,也是我們關注電晶體成本的原因。

  • So I think we stand by what we said at the investor meeting.

    所以我認為我們堅持我們在投資者會議上所說的話。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝。

  • And if I could have a follow-up, there's been some news reports about the Fab 42.

    如果我可以跟進的話,有一些關於 Fab 42 的新聞報導。

  • Could you helps us understand what's going on, how we should think about what's going on there?

    您能幫助我們了解正在發生的事情嗎?

  • Thank you.

    謝謝。

  • - CEO

    - CEO

  • Sure.

    當然。

  • I'll start and then Stacy can talk to you about any of the financial discussion of it.

    我先開始,然後史黛西可以和你談談任何有關它的財務討論。

  • You start these construction projects, we've talked about it in the past.

    你開始這些建設項目,我們過去已經討論過。

  • You have to start them three years, roughly, in advance.

    你必須大約提前三年開始。

  • They're very complex, some of the most complex, if not the most complex construction projects you could imagine.

    它們非常複雜,即使不是您能想像到的最複雜的建設項目,也是最複雜的。

  • You start those three years in advance, so when you're ready for operation.

    您可以提前三年開始,以便在您準備好營運時進行。

  • We started this one about three years ago.

    我們大約三年前開始了這項計畫。

  • If you go back and look three years ago, our view of the PC industry and PC growth, it was much more robust than what has played out and is our forecast today.

    如果你回顧三年前,我們對 PC 產業和 PC 成長的看法,會比我們今天的預測更強勁。

  • And so what we've done as we brought it online, is we've been very conservative with how we manage the project.

    因此,當我們將其上線時,我們所做的就是我們對專案管理方式非常保守。

  • We've brought it up until the shell is complete and facilitated from a construction standpoint.

    我們已經將其提出,直到外殼完成並從構造的角度進行促進。

  • And we've held back putting equipment in until we see the demand requirement and that's really what we've done.

    在我們看到需求之前,我們一直推遲安裝設備,而這正是我們所做的。

  • We've done that in the past.

    我們過去就這麼做過。

  • I've been in Intel's manufacturing for 30 years.

    我在英特爾的製造部門工作了 30 年。

  • You can go back in time and we did that fairly frequently and that's what we've done with Fab 42 as well.

    你可以回到過去,我們經常這樣做,這也是我們在 Fab 42 上所做的。

  • We've held it back until the demand requirement comes about.

    我們一直推遲到需求出現為止。

  • - CFO

    - CFO

  • Don't have a lot to add to that.

    沒有太多要補充的。

  • I would just say that the financial impact of this is actually pretty minimal.

    我只想說,這對財務的影響實際上很小。

  • As Brian said, we built a shell but we didn't equip it, and we did that before we need it.

    正如布萊恩所說,我們建造了一個外殼,但我們沒有裝備它,我們在需要它之前就這樣做了。

  • We will ultimately use it so the economic cost is just the time value of the money, which is a pretty modest cost.

    我們最終會使用它,因此經濟成本只是資金的時間價值,這是相當適中的成本。

  • And this is pretty normal for us.

    這對我們來說很正常。

  • We actually always want to have some prepositioned space to grow into as the market grows.

    事實上,我們總是希望隨著市場的發展,有一些預先設定的空間可以發展。

  • As Brian said, it's three years to construct one of these things.

    正如布萊恩所說,建造其中一件東西需要三年時間。

  • So it's economically quite detrimental to get caught short and the cost of having a little bit of extra space is pretty high.

    因此,如果資金短缺,在經濟上是非常不利的,而且擁有一點額外空間的成本相當高。

  • Doesn't impact depreciation.

    不影響折舊。

  • Doesn't impact gross margin.

    不影響毛利率。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝。

  • - CFO

    - CFO

  • You're welcome.

    不客氣。

  • Operator

    Operator

  • The next question comes from Ross Seymore from Deutsche Bank.

    下一個問題來自德意志銀行的羅斯·西莫爾。

  • - Analyst

    - Analyst

  • Thanks for letting me ask a question.

    謝謝你讓我問一個問題。

  • I guess the first one is on DCG.

    我猜第一個是在 DCG 上的。

  • Can you give us a little more color what happened in the fourth quarter?

    您能為我們提供更多關於第四季發生的事情嗎?

  • Especially given the confidence that you had as recently as November in the growth there.

    特別是考慮到您在 11 月就對那裡的成長充滿信心。

  • And also what gives you confidence given the fourth quarter miss in forecasting still low double-digit growth in 2014?

    鑑於第四季未能實現 2014 年兩位數成長的預測,是什麼給了您信心?

  • - CFO

    - CFO

  • Let me take that.

    讓我來吧。

  • This is Stacy.

    這是史黛西。

  • If you look at the trends in the fourth quarter, I think the trends actually reinforce the growth rate among cloud, high-performance computing, networking, storage.

    如果你看一下第四季度的趨勢,我認為這些趨勢實際上加強了雲端、高效能運算、網路、儲存之間的成長率。

  • They all came in consistent with what we thought.

    它們都與我們的想法一致。

  • Brian went through a lot of the year-on-year growth rates there.

    布萊恩經歷了許多同比成長率。

  • Still very robust growth rates.

    成長率仍然非常強勁。

  • So it actually increased our confidence in that.

    所以這實際上增強了我們對此的信心。

  • What we saw very specific to the enterprise was, we did return to growth.

    我們對企業的具體觀察是,我們確實恢復了成長。

  • It was a little bit less growth than what we had thought as we entered the quarter.

    這一增長比我們進入本季時的預期要少一些。

  • As we step back and look at what happened there, we think there's two elements that hit us.

    當我們退後一步看看那裡發生的事情時,我們認為有兩個因素讓我們印象深刻。

  • One was we had a pretty robust growth rate in Q3.

    一是我們在第三季的成長率相當強勁。

  • As we entered Q4, we saw that we had -- there's more inventory out in the world than we knew when we started the quarter, so that had to be burned off.

    當我們進入第四季度時,我們發現世界上的庫存比我們在本季開始時所知道的還要多,因此必須將其銷毀。

  • And then secondly, we saw a tapering off in order patterns across certain customers in certain segments at the end of the quarter.

    其次,我們看到本季末某些細分市場的某些客戶的訂單模式逐漸減少。

  • And we think that that was driven by the government shutdown and the uncertainty around the debt ceiling, because when you look at the customers and the segments it's pretty clearly in those segments.

    我們認為這是由政府關閉和債務上限的不確定性所推動的,因為當你觀察客戶和細分市場時,這些細分市場中的情況非常明顯。

  • We had a range around growth rates for 2014 and the investor meeting, we said 10% to 15%.

    我們對 2014 年的成長率和投資者會議設定了一個範圍,我們說 10% 到 15%。

  • Based on a slower growth in enterprise in Q4 and maybe a slower recovery in enterprise over the course of 2014, I'd say we're now at the lower end of that range.

    基於第四季度企業成長放緩以及 2014 年企業復甦可能放緩,我想說我們現在處於該範圍的下限。

  • So we're more at the 10% range than the 15% part of that range.

    所以我們更多的是在 10% 的範圍內,而不是在該範圍的 15% 的範圍內。

  • - Analyst

    - Analyst

  • Great.

    偉大的。

  • I guess as my follow-on, switching gears a little bit to the OpEx side, you guided sequentially flat.

    我想,作為我的後續行動,稍微轉向營運支出方面,您的指導順序是持平的。

  • But it looks like if you just hold R&D as part of that sequentially flat for the full year, it seems to imply that R&D as a singular expense will be coming down as the year progresses.

    但看起來,如果你只是將研發作為全年環比持平的一部分,這似乎意味著研發作為單一支出將隨著今年的進展而下降。

  • Is that math correct?

    這個數學正確嗎?

  • And if so, what's driving that decline throughout the year?

    如果是這樣,是什麼推動了全年的下降?

  • - CFO

    - CFO

  • That math is correct.

    這個數學是正確的。

  • So I think Q1 will be the high point in terms of quarterly spending.

    所以我認為第一季將是季度支出的最高點。

  • It will come down quarter by quarter.

    它將逐季下降。

  • We'll be bringing employment down over the course of the year.

    我們將在這一年中減少就業。

  • Beyond that, as we talked about at the investor meeting, we're going to be making some significant new investments in things like the data center, tablets, low-power SoCs, those kinds of things.

    除此之外,正如我們在投資者會議上談到的,我們將在資料中心、平板電腦、低功耗 SoC 等領域進行一些重大的新投資。

  • So even beyond the headline number, there's going to be a significant shift in investment over the course of the year.

    因此,即使除了整體數字之外,今年投資也將發生重大轉變。

  • But you have the math right, and it's going to be due to just shifting on projects and bringing down employment over the course of 2014.

    但你的計算是正確的,這將是由於 2014 年計畫的轉移和就業的減少所造成的。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝。

  • - CEO

    - CEO

  • Thanks, Ross.

    謝謝,羅斯。

  • Operator

    Operator

  • The next question comes from Glen Yeung from Citi.

    下一個問題來自花旗銀行的 Glen Yeung。

  • - Analyst

    - Analyst

  • Thanks.

    謝謝。

  • Brian or Stacy, either one, to what extent could you be misreading the enterprise server market, in the sense that the virtualization curve is probably now over?

    Brian 或 Stacy,無論是哪一個,從虛擬化曲線現在可能已經結束的意義上來說,您可能在多大程度上誤讀了企業伺服器市場?

  • And maybe you don't see the recovery in enterprise server with the economy that one might normally see.

    也許您看不到企業伺服器的經濟復甦與通常情況下的經濟復甦。

  • - CFO

    - CFO

  • I think we'd say there is some impact.

    我想我們會說有些影響。

  • As Dianne showed you, we're showing a long-term growth rate in enterprise that's less than what it was three years ago.

    正如黛安向您展示的那樣,我們展示的企業長期成長率低於三年前。

  • I think she said there was some impact associated with the virtualization curve having played out.

    我認為她說虛擬化曲線已經發揮了一些影響。

  • But that doesn't stop the fact that we think that there's growth in the enterprise segment.

    但這並不能阻止我們認為企業領域正在成長的事實。

  • We would just change our view for 2014.

    我們只是改變了對 2014 年的看法。

  • We think the recovery just plays out a bit slower than we would have thought a quarter ago.

    我們認為復甦的速度比我們一個季度前的預期要慢一些。

  • - Analyst

    - Analyst

  • And then a similar question, but on the PC side.

    然後是一個類似的問題,但在 PC 端。

  • To what extent do you think that the strength you're seeing, relative strength you're seeing, in PCs today is a function of the software transition at Microsoft?

    您認為當今 PC 領域的優勢、相對優勢在多大程度上是微軟軟體轉型的結果?

  • And does it therefore end in April?

    那麼它會在四月結束嗎?

  • Or do you think this is a more sustainable recovery?

    或者您認為這是一個更可持續的復甦?

  • - CEO

    - CEO

  • So as we said in our script, what drove a lot of it was desktop.

    正如我們在腳本中所說,桌面驅動了很多事情。

  • And we're seeing the mature markets, enterprise being the strongest, with the emerging markets still flat to slightly down.

    我們看到成熟市場、企業市場最強勁,而新興市場仍持平或略有下降。

  • So our view, if you look out from a PC perspective, was that we forecast with a relatively cautious and careful view, looking out.

    因此,如果你從個人電腦的角度來看,我們的觀點是,我們以相對謹慎和謹慎的觀點來預測,並展望未來。

  • We compared against the third parties.

    我們與第三方進行了比較。

  • We think we're in line with what third parties have forecasted as well.

    我們認為我們也符合第三方的預測。

  • Some of the contribution to fourth quarter was the XP transition, which is really what you're talking about.

    第四季的一些貢獻是 XP 過渡,這確實是您所說的內容。

  • We don't think that was the only thing.

    我們認為這不是唯一的事情。

  • As I said, a lot of the growth came from desktop.

    正如我所說,大部分成長來自桌面。

  • The desktop was largely enterprise in the mature markets.

    在成熟市場中,桌上型電腦主要是企業級的。

  • That really we thinks has the to do with a lot of great form factors that are coming in, the all-in-ones, the great innovation that's coming in there.

    我們確實認為這與即將出現的許多出色的外形因素、一體機以及即將出現的偉大創新有關。

  • We saw some of the highest units of i5 and i7 in the enthusiast area.

    我們在發燒友領域看到了一些最高的 i5 和 i7 單元。

  • We think those are some great gaming platforms.

    我們認為這些都是一些很棒的遊戲平台。

  • We think there's a lot more to the desktop growth.

    我們認為桌面的成長還有很多因素。

  • We also introduced the Haswell-based NUC, which is the smallest form factor desktop machine that you can have.

    我們還推出了基於 Haswell 的 NUC,這是您可以擁有的最小外形的桌上型電腦。

  • So it's those kinds of innovations that are driving this desktop growth as much or more than the software transition.

    因此,正是這些創新對桌面成長的動力與軟體轉型的動力一樣甚至更大。

  • - Analyst

    - Analyst

  • That's great.

    那太棒了。

  • Thank you very much.

    非常感謝。

  • Operator

    Operator

  • The next question comes from Stacy Rasgon from Sanford Bernstein.

    下一個問題來自桑福德伯恩斯坦公司的史黛西·拉斯貢(Stacy Rasgon)。

  • - Analyst

    - Analyst

  • Thanks for taking my questions.

    感謝您回答我的問題。

  • I want to dig into the full-year guidance a little bit.

    我想深入研究一下全年指導。

  • There's something I don't understand.

    有件事我不明白。

  • You just basically took your data center guidance down for 2014 by a little bit.

    你們基本上只是將 2014 年的資料中心指引下調了一點。

  • Doesn't sound like you're improving your full-year PC guidance at all.

    聽起來你根本沒有改善你的全年電腦指導。

  • You're still saying single-digits.

    你仍然說個位數。

  • You didn't take your full-year revenue outlook down.

    您並沒有下調全年營收預期。

  • What's making up the difference?

    是什麼造成了差異?

  • And if there's nothing making up the difference, why didn't you take the full-year revenue guidance down?

    如果沒有什麼可以彌補差額,為什麼不降低全年收入指引呢?

  • - CFO

    - CFO

  • I think, Stacy, you're assuming a level of precision around approximately flat that doesn't exist.

    我認為,史黛西,你假設的精度水平大約是平坦的,但這是不存在的。

  • Approximately flat can encompass a little bit up, a little bit down.

    大致平坦可以包括一點向上,一點向下。

  • So if you think about the Data Center being $10 billion, if we're at the higher end of the range versus the lower end of the range that we put out here, you changed the full year on a $50-plus billion dollar business by a few hundred million dollars.

    因此,如果您考慮資料中心的價值為 100 億美元,如果我們處於該範圍的高端而不是我們在此列出的範圍的低端,那麼您將 500 億美元以上的業務的全年變化為:幾億美元。

  • - Analyst

    - Analyst

  • Is the bias more to a little bit down, versus a little bit up, at least more than it was in November?

    偏差是稍微下降還是稍微上升,至少比 11 月更多?

  • - CFO

    - CFO

  • At this point, again you're assuming a level of precision that I think isn't appropriate when you're talking something that will play out over the next 12 months.

    此時,您再一次假設了一定程度的精確度,我認為當您談論將在未來 12 個月內發生的事情時,這是不合適的。

  • We had a positive data point on PCs.

    我們在個人電腦上有一個正面的數據點。

  • We had a little bit of a negative data point on one element of the enterprise.

    我們在企業的一個要素上有一些負面的數據點。

  • Our tablet momentum looks good.

    我們的平板電腦勢頭看起來不錯。

  • You look at it and I'd say our view is pretty consistent with what it was back in November.

    你看看它,我會說我們的觀點與 11 月的觀點非常一致。

  • - Analyst

    - Analyst

  • But you don't book any revenues on the tablets, right?

    但您不會在平板電腦上預訂任何收入,對吧?

  • - CEO

    - CEO

  • Stacy, thanks for the question.

    史黛西,謝謝你的提問。

  • We're going to move on to the next questioner.

    我們將繼續下一個提問者。

  • Operator

    Operator

  • The next question comes from Christopher Danely from JPMorgan.

    下一個問題來自摩根大通的克里斯多福·丹利(Christopher Danely)。

  • - CFO

    - CFO

  • Mr. Danely, you may be on mute.

    丹尼先生,您可能處於靜音狀態。

  • We can't hear you.

    我們聽不到你的聲音。

  • - Analyst

    - Analyst

  • Is that better?

    那個更好嗎?

  • - CEO

    - CEO

  • Yes, that's better.

    是的,這樣更好。

  • - Analyst

    - Analyst

  • One of these days I got to figure out how to work my own phone.

    這些天我得弄清楚如何使用我自己的手機。

  • - CFO

    - CFO

  • Yes, technology's tough.

    是的,技術很難。

  • - Analyst

    - Analyst

  • Tell me about it.

    告訴我怎麼回事。

  • Anyway, my first question is on gross margins.

    無論如何,我的第一個問題是毛利率。

  • You gave us the Q1 and the full-year guidance.

    您向我們提供了第一季和全年指導。

  • Can you talk about how things are supposed to trend after Q1?

    能談談第一季之後的趨勢嗎?

  • And then maybe also talk about some of the levers on gross margins, up or down.

    然後也許還可以談談毛利率的一些上升或下降的槓桿。

  • - CFO

    - CFO

  • Sure.

    當然。

  • I'll anchor it on Q1 and then give you a sense of how I see it playing out over the course of the year, since we've provided specific guidance for Q1.

    我將把它錨定在第一季度,然後讓您了解我對這一年的情況的看法,因為我們已經為第一季提供了具體的指導。

  • We've guided Q1 at 59%, coming down from Q4.

    我們對第一季的預期為 59%,低於第四季。

  • We're at 62% in Q4, so down to 59%.

    第四季我們的比例為 62%,因此下降至 59%。

  • The elements there that bring us down, we have about 1.5 points down associated with the start of production on Broadwell, prior to its qualification for sale.

    導致我們下降的因素是,在獲得銷售資格之前,布羅德韋爾 (Broadwell) 開始生產,導致我們下降了約 1.5 個百分點。

  • You've seen this from us in the past, that build will be reserved out until we reach the formal qualification date.

    您過去已經從我們這裡看到了這一點,該構建將被保留,直到我們到達正式的資格日期。

  • Then we're about 1 point down in Q1 as a result of it just being a seasonally lower quarter.

    然後我們在第一季下降了大約 1 個百分點,因為它只是季節性較低的季度。

  • So, yes, I think you'd understand and expect both of those.

    所以,是的,我想你會理解並期待這兩點。

  • 60% for the year, so algebra would say an improving gross margin over the course of the year.

    今年的毛利率為 60%,因此代數可以表示這一年的毛利率有所提高。

  • I think when we get into the back half of the year, we have a gross margin that's back into the low 60%s.

    我認為,當我們進入下半年時,我們的毛利率將回到 60% 的低水平。

  • When I think about the headwinds and tailwinds to that, the tailwinds are that we expect that we'll see a falling off of 14-nanometer startup costs.

    當我想到這方面的不利因素和有利因素時,有利因素是我們預期 14 奈米啟動成本會下降。

  • We talked about that at the investor meeting, and I think that's consistent with what you would expect from us.

    我們在投資者會議上討論了這一點,我認為這符合您對我們的期望。

  • We see volume and unit costs getting better over the course of the year.

    我們看到銷售量和單位成本在這一年中有所改善。

  • And reserves will get a bit better as we progress through the year.

    隨著今年的進展,儲備將會改善。

  • Again, we have this Broadwell reserve in the first quarter.

    同樣,我們在第一季有布羅德韋爾儲備。

  • The big offset to that then are the dollars that we're providing in terms of contra-revenue dollars for tablets that we also talked about in some depth at the investor meeting.

    對此最大的抵銷是我們為平板電腦提供的收入對銷美元,我們也在投資者會議上深入討論過這一點。

  • We're not seeing a lot of those in the first quarter.

    我們在第一季沒有看到很多這樣的情況。

  • They really build over the course of the year.

    他們確實是在這一年建立起來的。

  • So we have the positives that I outlined.

    所以我們有我概述的正面因素。

  • Then you'll see that offset as a result of those temporary contra-revenue dollars that we're providing to our customers as we take our tablet product line broadly through the different OSs and price points.

    然後,當我們將平板電腦產品線廣泛應用於不同的作業系統和價格點時,您會看到由於我們向客戶提供的臨時收入對銷收入而產生的抵消。

  • - Analyst

    - Analyst

  • Great.

    偉大的。

  • And for my follow-up, I guess it's on that question.

    對於我的後續行動,我想是關於這個問題的。

  • On the tablet strategy, to get to $40 million you're saying it's going to be a 1.5 percentage hit.

    在平板電腦策略上,要達到 4000 萬美元,你會說這將達到 1.5%。

  • Let's say you guys get into the second half of the year and you're not quite to the $40 million, if it's a pretty significant shortfall.

    假設你們進入下半年,還沒有達到 4000 萬美元,如果這是一個相當大的缺口的話。

  • Would you consider canning that strategy?

    您會考慮取消該策略嗎?

  • I guess I'm just wondering what the commitment is if the volumes aren't there but the cost is there by the end of the year.

    我想我只是想知道,如果到年底銷售還沒有達到,但成本已經達到,那麼承諾是什麼。

  • - CEO

    - CEO

  • Sure.

    當然。

  • So this isn't a price reduction as a normal price reduction would be.

    因此,這並不是正常的降價。

  • It's not where you're just simply reducing it.

    這不是你簡單地減少它的地方。

  • It's truly a BoM cost equalizer.

    它確實是 BoM 成本均衡器。

  • And remember, a lot of our 40 million tablets in 2014 will be based on Bay Trail.

    請記住,2014 年我們的 4000 萬台平板電腦中的大部分將基於 Bay Trail。

  • Bay Trail was originally designed for Atom-based PC segment and the upper-end tablet.

    Bay Trail 最初是為基於 Atom 的 PC 細分市場和高階平板電腦而設計的。

  • And so what we're doing here is doing a BoM cost delta relative to what the mid- and lower-end tablets require.

    因此,我們在這裡所做的是相對於中低階平板電腦的需求來計算 BoM 成本增量。

  • And so those are things like Bay Trail may require more layers of a printed circuit board for the board itself, more components on the board, tighter power management controls and things like that.

    因此,像 Bay Trail 這樣的東西可能需要更多層的印刷電路板本身、板上更多的組件、更嚴格的電源管理控制等等。

  • We have a whole program to reduce those throughout the year.

    我們有一個完整的計劃來全年減少這些。

  • So that gives us confidence that as we go through the year, the BoM cost delta will shrink.

    因此,這讓我們相信,隨著這一年的過去,BoM 成本增量將會縮小。

  • But if the volume didn't show up for some reason, and I'm not going to say that that's what's going to happen, but I'm confident it will.

    但如果由於某種原因該卷沒有出現,我不會說這就是將會發生的事情,但我相信它會發生。

  • But if it didn't, it's on a per-unit basis, and so the spending on that contra would be reduced equivalently.

    但如果沒有,則以單位為基礎,因此該對抗的支出將會相應減少。

  • - CFO

    - CFO

  • I'd just add, as Brian said, we're doing a lot of enabling across the industry to take the BoM costs down.

    我只想補充一點,正如布萊恩所說,我們正在整個行業中做大量的工作來降低 BoM 成本。

  • Keep in mind, these are costs at the system level, not at our chip level.

    請記住,這些是系統層級的成本,而不是我們的晶片等級的成本。

  • It will vary a lot by SKU, but to give you a sense for a Bay Trail platform from the beginning of the year to the end of the year, we think that that BoM penalty drops by more than half.

    不同的 SKU 會有很大差異,但為了讓您了解 Bay Trail 平台從年初到年底的情況,我們認為 BoM 罰款下降了一半以上。

  • And so it gets better out in time and then when we get to the Broxton generation we think it's de minimis.

    所以隨著時間的推移,情況會變得更好,然後當我們到達布羅克斯頓一代時,我們認為這是微不足道的。

  • - CEO

    - CEO

  • Both Broxton and SoFIA are specifically designed to eliminate that delta.

    Broxton 和 SoFIA 都是專門為消除這種差異而設計的。

  • - Analyst

    - Analyst

  • Got it.

    知道了。

  • Okay.

    好的。

  • Thanks a lot, guys, that's very helpful.

    非常感謝,夥計們,這非常有幫助。

  • - CEO

    - CEO

  • Thanks, Chris.

    謝謝,克里斯。

  • Operator

    Operator

  • The next question comes from Tristan Gerra from Baird.

    下一個問題來自貝爾德 (Baird) 的特里斯坦·傑拉 (Tristan Gerra)。

  • - Analyst

    - Analyst

  • Hi, good afternoon.

    嗨,下午好。

  • If we look at tablets and smartphone, what type of units do you need to reach for that business to start having a material impact in gross margin from the standpoint of higher utilization rates and excluding the contra-revenue impact and offset?

    如果我們看看平板電腦和智慧型手機,從更高的利用率並排除對收入影響和抵消的角度來看,您需要達到什麼類型的單位才能使該業務開始對毛利率產生重大影響?

  • - CFO

    - CFO

  • You were asking tablets and phones?

    您問的是平板電腦和手機嗎?

  • - Analyst

    - Analyst

  • Yes.

    是的。

  • So just looking at the 40 million units target for this year, what type of volume do you need to get in order for gross margin to start appreciating from the rest of the business, if you exclude the contra-revenue impact?

    因此,只要看看今年 4000 萬台的目標,如果排除對收入的影響,您需要獲得什麼類型的銷售才能使其他業務的毛利率開始升值?

  • - CFO

    - CFO

  • Yes, it's hard to say.

    是的,這很難說。

  • Maybe I'll bridge back to our strategy here.

    也許我會在這裡回到我們的策略。

  • Our strategy is that we're going to use our process technology lead.

    我們的策略是我們將利用我們領先的工藝技術。

  • We'll have leadership products that also are competitive, or maybe even leadership in terms of cost.

    我們將擁有具有競爭力的領先產品,甚至可能在成本方面處於領先地位。

  • I showed some data at the investor meeting that showed the die size as we progress from Bay Trail to Broxton to SoFIA, so you can get a sense of the kinds of cost structure that we're going to have.

    我在投資者會議上展示了一些數據,這些數據顯示了我們從 Bay Trail 到布羅克斯頓再到 SoFIA 的過程中的晶片尺寸,這樣您就可以了解我們將擁有的成本結構類型。

  • On a percentage basis, I'm not envisioning a situation where it causes the gross margin percentage to go up.

    從百分比的角度來看,我並沒有預見到會導致毛利率上升的情況。

  • But you can definitely get to a space once we get through these contra-revenue enabling dollars, where every unit we sell is accretive on our gross margin dollars per unit.

    但是,一旦我們通過了這些對收入的支持美元,您絕對可以進入一個空間,我們銷售的每個單位都會增加我們的每單位毛利率美元。

  • It's utilizing factories that we have in place for PCs, and so it's a nice adder at a gross margin dollars per unit standpoint.

    它利用了我們為個人電腦設立的工廠,因此從每單位毛利率的角度來看,它是一個不錯的加法器。

  • - Analyst

    - Analyst

  • Okay.

    好的。

  • And then quick follow-up.

    然後快速跟進。

  • You talked about enterprise desktop being strong.

    您談到企業桌面很強大。

  • Any color that you can provide in notebooks, in terms of whether it tracked in line with expectation and whether it was more driven by consumer or enterprise.

    您可以在筆記型電腦中提供的任何顏色,無論它是否符合預期以及它是否更多地受到消費者或企業的驅動。

  • - CFO

    - CFO

  • It was pretty much in line with expectations.

    這與預期非常一致。

  • We didn't see any surprise on the notebook side.

    我們在筆記型電腦方面沒有看到任何驚喜。

  • We saw overall PC units a little bit higher and that was really desktop.

    我們看到整體 PC 單位稍高一些,那是真正的桌上型電腦。

  • It was, as Brian said, broad-based a across desktops.

    正如布萊恩所說,它是跨桌面的廣泛基礎。

  • It was all-in-ones and corporate and consumer, everything was just a little stronger on the desktop side.

    它是一體機,企業和消費者,一切都在桌面端更強一點。

  • - Analyst

    - Analyst

  • Great, thank you.

    太好了謝謝。

  • Operator

    Operator

  • Next question comes from John Pitzer from Credit Suisse.

    下一個問題來自瑞士信貸銀行的約翰‧皮策。

  • - Analyst

    - Analyst

  • Yes, good afternoon, guys.

    是的,下午好,夥計們。

  • Congratulations on the solid result.

    祝賀取得了紮實的成果。

  • Brian, I guess my first question relative to the seasonal guide for the March quarter, is there any granularity you can give us between the PC group, the Data Center Group and other IA?

    Brian,我想我的第一個問題與三月季度的季節性指南有關,您可以在 PC 群組、資料中心群組和其他 IA 之間為我們提供任何細微差別嗎?

  • I guess the reason why I'm asking the question is, I get in the absence of knowing just guiding to seasonal makes sense, but you do have Bay Trail Android tablets in Q1 that you didn't have in Q4.

    我想我問這個問題的原因是,我不知道僅僅指導季節性是有意義的,但你在第一季確實有 Bay Trail Android 平板電腦,而你在第四季度沒有。

  • When you look at availability of SKUs in the PC group, you actually have a lot better availability of the SKUs I think people like in Q1 versus Q4, both of which would argue for better seasonality.

    當你查看 PC 組中 SKU 的可用性時,我認為人們喜歡第一季度的 SKU 的可用性實際上比第四季度要好得多,這兩者都說明了更好的季節性。

  • Maybe you could give us a little granularity there to be helpful.

    也許您可以給我們一些詳細信息,以提供幫助。

  • - CEO

    - CEO

  • Sure.

    當然。

  • Let me try and Stacy can add some of the financial detail.

    讓我嘗試一下,史黛西可以添加一些財務細節。

  • Part of it is -- let's go back.

    其中一部分是——讓我們回去吧。

  • It's seasonality off growth from Q4, so a stronger Q4.

    與第四季度相比,成長受到季節性影響,因此第四季度會更加強勁。

  • So it's a good quarter.

    所以這是一個很好的季度。

  • I don't want to say that just growing at seasonality is not a good thing.

    我並不是想說,光是季節性成長並不是一件好事。

  • Second thing I would say is, you're right, on the PC we do see a lot of the 2-in-1s come in.

    我要說的第二件事是,你是對的,在 PC 上我們確實看到了很多二合一產品。

  • But also Q1 is just -- there's not a lot of events that happen that can drive upsides like holidays and things like that.

    但第一季也沒有發生太多可以推動上漲的事件,像是假期之類的事情。

  • One of your comments, you said we'll start seeing Bay Trail Android tablets.

    您的評論之一是,您說我們將開始看到 Bay Trail Android 平板電腦。

  • Most of the Bay Trail Android tablets really start showing up more in Q2 than in Q1.

    大多數 Bay Trail Android 平板電腦在第二季的出現量確實開始多於第一季。

  • That's, again, purely -- remember, we made a shift.

    再次強調,這純粹是──記住,我們做出了轉變。

  • Our original program for Bay Trail was all Windows.

    我們最初的 Bay Trail 程式都是 Windows。

  • As we came in through the mid-point of the year, we said left's shift and make it Windows and Android.

    當我們進入年中時,我們進行了左移並使其成為 Windows 和 Android。

  • So our OEM partners, as well, are targeting more towards Q2.

    因此,我們的 OEM 合作夥伴也將更多目標瞄準第二季。

  • It's just, when do you go and start putting back in that back-to-school event which is the next seasonal place where upsides usually occur.

    只是,你什麼時候回去開始參加返校活動,這是下一個通常會出現好消息的季節性地方。

  • - CFO

    - CFO

  • The only thing I'd add to that, I guess I'd say I certainly hope you're right and it's better than seasonal and we have all the ability in the world to respond to that.

    我唯一要補充的是,我想我會說我當然希望你是對的,這比季節性更好,我們有能力對此做出反應。

  • So that ends up being a good answer.

    所以這最終是一個很好的答案。

  • The thing you want to keep in mind as you work through seasonality over the course of the year, is that these contra-revenue dollars that we're providing to the customers for tablet enabling, that will come off of revenue.

    當您在一年中處理季節性問題時,您要記住的一件事是,我們為客戶提供平板電腦支援的這些對收入美元將從收入中扣除。

  • So it's a gross margin hit, but it will also be a detriment to revenue while we support them.

    因此,這對毛利率造成了打擊,但在我們支持他們的同時,這也會損害收入。

  • So not so much a Q2 issue, but as you get into the back half it's going to be one of the minuses out there.

    所以這並不是第二季的問題,但當你進入後半段時,這將成為那裡的缺點之一。

  • - Analyst

    - Analyst

  • That's helpful.

    這很有幫助。

  • And then, guys, relative to DCG, at the Analyst Day in November you talked about your expectations for enterprise being, I believe, a 7% or 8% type long-term grower.

    然後,夥計們,相對於 DCG,在 11 月的分析師日上,你們談到了你們對企業的期望,我相信,是 7% 或 8% 類型的長期成長者。

  • I know relative to Glen's question around virtualization, you answered that.

    我知道相對於 Glen 關於虛擬化的問題,您已經回答了。

  • I guess my question is, have you taken into account cloud and enterprise as off-loading infrastructure into the cloud?

    我想我的問題是,您是否考慮過雲端和企業將基礎架構卸載到雲端?

  • I know at the Analyst Day you talked about two-thirds of cloud growth being consumer and not business.

    我知道您在分析師日談到雲端成長的三分之二是消費者而非企業。

  • But if you start to lose dollars in enterprise to cloud, is it a one-to-one law?

    但是,如果您開始在企業中向雲端運算損失資金,這是一對一的規律嗎?

  • If you lose at enterprise you'll just make it up in cloud?

    如果你在企業輸了,你會在雲端彌補嗎?

  • Or how do I think about that dynamic?

    或者我如何看待這種動態?

  • - CFO

    - CFO

  • I think it's close enough for government work.

    我認為對於政府工作來說已經夠近了。

  • If that's how it plays out, it should be dollar-for-dollar close enough that you don't care.

    如果結果就是這樣,那麼價格應該足夠接近,以至於你不在乎。

  • One of the phenomenon that we've seen is that we've seen the mix in the cloud actually moving up.

    我們看到的現象之一是,我們看到雲中的混合實際上正在上升。

  • So if you look at the ASP impact inside of servers, John, it's more driven by cloud than anything else right now, and so thereby a richer and richer mix.

    因此,約翰,如果你看看伺服器內部 ASP 的影響,你會發現它現在更多的是由雲端驅動,而不是其他任何東西,因此組合越來越豐富。

  • That's why I think you're probably pretty close if you start to see an offload that way.

    這就是為什麼我認為如果你開始以這種方式看到卸載,你可能已經非常接近了。

  • And utilization rates inside of enterprises tend to be pretty high on the kinds of things that they move into the cloud.

    企業內部遷移到雲端的事物的使用率往往相當高。

  • I think you're pretty close to one-to-one.

    我認為你們非常接近一對一。

  • - Analyst

    - Analyst

  • Thanks, guys.

    多謝你們。

  • Helpful.

    有幫助。

  • Operator

    Operator

  • The next question comes from Alex Ghana from JMP Securities.

    下一個問題來自 JMP 證券的 Alex Ghana。

  • - Analyst

    - Analyst

  • Thanks so very much for taking my question.

    非常感謝您提出我的問題。

  • I was wondering if you could talk about how you see Asia specifically and what's going on for you with the holiday build there and how that's factoring in to your Q1 expectations.

    我想知道您是否能具體談談您對亞洲的看法,以及那裡的假期建設對您來說有何影響,以及這如何影響您對第一季的預期。

  • Thank you.

    謝謝。

  • - CEO

    - CEO

  • Like we said in Q4, we saw Asia continue to be soft.

    正如我們在第四季所說,我們看到亞洲繼續疲軟。

  • We've built in our seasonal growth.

    我們已經建立了季節性成長。

  • We don't expect anything big to shift there.

    我們預計那裡不會發生任何重大變化。

  • We see Asia continuing to -- they'll have that same seasonal growth as well.

    我們看到亞洲將繼續出現同樣的季節性成長。

  • The forecast stands.

    預測成立。

  • We don't see anything different occurring there, so to speak.

    可以這麼說,我們沒有看到那裡發生任何不同的事情。

  • - Analyst

    - Analyst

  • Is there any evidence within your build and your ODM build into the server market that I know some of that's coming back to service data center?

    在您的建置和您進入伺服器市場的 ODM 建置中是否有任何證據表明我知道其中一些會返回到服務資料中心?

  • But what about the opportunity in Asia for them to become a stronger data center enterprise customer going forward?

    但他們在亞洲未來成為更強大的資料中心企業客戶的機會又如何呢?

  • - CEO

    - CEO

  • Certainly.

    當然。

  • I mean, if you look at one of the places we look at for data center growth and we are seeing it, for both.

    我的意思是,如果你看看我們正在尋找資料中心成長的地方之一,我們就看到了這兩個地方的成長。

  • I mean, it's across enterprise, cloud is growing very well.

    我的意思是,在整個企業中,雲端運算發展得非常好。

  • A lot of the cloud growth is driven out of Asia.

    雲端運算的成長很大一部分來自亞洲。

  • We absolutely see Asia as a growth area for the data center in general.

    總體而言,我們絕對將亞洲視為資料中心的成長區域。

  • - CFO

    - CFO

  • Yes, exactly.

    對,就是這樣。

  • I would just say on the client side, we think what we're seeing in Asia is just the tablet penetration rate increase that's offset by a couple of years from what we saw in mature markets.

    我只想說,在客戶端,我們認為我們在亞洲看到的只是平板電腦滲透率的成長,這與我們在成熟市場看到的相比被抵消了幾年。

  • That's why I think we're seeing stabilization and improvement in mature markets that's ahead of emerging markets, is we've just reached saturation point on tablet penetration.

    這就是為什麼我認為我們看到成熟市場的穩定和改善領先於新興市場,因為我們剛剛達到平板電腦滲透率的飽和點。

  • In the emerging markets it's still increasing.

    在新興市場,這一數字仍在增加。

  • It's much more of a client phenomenon than a data center phenomenon.

    這更多是一種客戶端現象,而不是資料中心現象。

  • - Analyst

    - Analyst

  • Would you expect the lag in Asia to be driven more by Bay Trail later on in the year?

    您預計今年晚些時候,Bay Trail 會更多地推動亞洲的滯後嗎?

  • Or Haswell?

    還是哈斯韋爾?

  • - Director of IR

    - Director of IR

  • Alex, I appreciate the question, but we're trying to keep it clear for everybody.

    亞歷克斯,我很欣賞這個問題,但我們正在努力讓每個人都清楚。

  • Limit it to two.

    將其限制為兩個。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝。

  • That's helpful.

    這很有幫助。

  • Operator

    Operator

  • The next question comes from Vivek Arya from Bank of America.

    下一個問題來自美國銀行的 Vivek Arya。

  • - Analyst

    - Analyst

  • Thanks for taking my question.

    感謝您提出我的問題。

  • So first, on the smartphone and tablet space, I think it is true that Intel has a manufacturing lead.

    首先,在智慧型手機和平板電腦領域,我認為英特爾確實在製造方面處於領先地位。

  • But do you think your cost reduction efforts and then the Moore's Law advantages ever progress faster than the ASP declines in the space?

    但您認為您的成本降低努力以及摩爾定律的優勢是否比該領域平均售價下降的速度更快?

  • In other words, do you think Intel can be sustainably profitable in the mobile space, which is maturing?

    換句話說,您認為英特爾能夠在日趨成熟的行動領域持續獲利嗎?

  • - CEO

    - CEO

  • Yes.

    是的。

  • We absolutely do.

    我們絕對願意。

  • You saw at the investor meeting products like SoFIA, which really are going to be put onto 14-nanometer, are fully integrated all the way through with a 3G option or an LTE option.

    您在投資者會議上看到,像 SoFIA 這樣的產品確實將採用 14 奈米工藝,並與 3G 選項或 LTE 選項完全整合。

  • And that LTE is with carrier aggregation.

    LTE 具有載波聚合功能。

  • Those kinds of products we believe are very, very cost competitive.

    我們認為這類產品非常非常具有成本競爭力。

  • In fact, leading from a cost position.

    事實上,是從成本角度領先。

  • In addition, we don't talk a lot about but we are already in that low cost Asia market.

    此外,我們沒有談論太多,但我們已經進入了低成本的亞洲市場。

  • We are in Shenzhen.

    我們在深圳。

  • We're working with ODMs there.

    我們正在與那裡的 ODM 合作。

  • That's actually where a lot of the innovations coming out of, for some of these cost reductions on tablets, and where we're getting the cost reduction ideas.

    實際上,許多創新都是從這裡產生的,例如平板電腦上的一些成本降低,以及我們獲得成本降低想法的地方。

  • So we're in that market now.

    所以我們現在就進入這個市場了。

  • We sold out of that Shenzhen low-cost market in Q4.

    我們在第四季在深圳低價市場上銷售一空。

  • We'll continue through it, through 2014.

    我們將繼續這樣做,直到 2014 年。

  • And with products like SoFIA on leading edge technology, we're very comfortable that we can get into those very low price points.

    憑藉 SoFIA 等具有領先技術的產品,我們非常高興能夠進入如此低的價格點。

  • - Analyst

    - Analyst

  • Thanks.

    謝謝。

  • For my follow-up, there seems to be this race to provide 64-bit capability in application processors.

    在我的後續報導中,似乎存在著一場在應用處理器中提供 64 位元功能的競賽。

  • I think you guys have always had 64-bit support with Atom like, in fact all your products.

    我想你們一直都像 Atom 一樣支援 64 位,事實上你們的所有產品都是如此。

  • The question is, what do you think is the value proposition of 64-bit?

    問題是,您認為 64 位元的價值主張是什麼?

  • And how can you leverage your 64-bit capabilities to win market share in mobile?

    如何利用 64 位元功能贏得行動市場份額?

  • - CEO

    - CEO

  • Sure.

    當然。

  • You're right.

    你說得對。

  • All of our products have always been 64-bit, including Atom.

    我們所有的產品一直都是 64 位元的,包括 Atom。

  • OEMs who build with our products now can already go out and start to utilize 64-bit.

    使用我們產品進行建置的 OEM 現在已經可以開始使用 64 位元。

  • We're out there, working with the OSs, all of the OSs and the OEMs, to go enable that.

    我們與作業系統、所有作業系統和 OEM 合作,以實現這一目標。

  • The real usages and the values are going to be in those high-compute areas, things like video; things like media transfer, media manipulation.

    真正的用途和價值將在那些高計算領域,例如視訊;諸如媒體傳輸、媒體操縱之類的事情。

  • All the classic things around computing that you saw drive the compute cycles on PC and people are doing more and more with tablets and phones, are going to be the same things that drive 64-bit utilization on these mobile devices.

    您所看到的所有有關計算的經典事物都推動了 PC 上的計算週期,並且人們越來越多地使用平板電腦和手機進行操作,這些因素也將推動這些行動裝置上的 64 位元利用率。

  • I think you'll also see it in security.

    我想你也會在安全方面看到它。

  • All of those things are going to drive a desire for 64-bit.

    所有這些都將激發人們對 64 位元的渴望。

  • - Analyst

    - Analyst

  • Thank you.

    謝謝。

  • Operator

    Operator

  • The next question comes from Mike McConnell from Pacific Crest.

    下一個問題來自 Pacific Crest 的 Mike McConnell。

  • - Analyst

    - Analyst

  • Thanks.

    謝謝。

  • I wanted to ask about, again, going back to enterprise and DCG, since you said that some of the fall off late in the quarter was due to some of the government issues, shutdown, debt ceiling, et cetera.

    我想再次詢問企業和 DCG,因為您說過本季末的一些下滑是由於政府問題、政府關門、債務上限等造成的。

  • And now that the debt deal has been reached, have you gotten any feedback from some of these enterprise customers that they are feeling more comfortable now to respend?

    既然債務協議已經達成,您是否從其中一些企業客戶那裡得到了任何反饋,表明他們現在感覺更願意重新消費了?

  • - CFO

    - CFO

  • We'll watch it over the first quarter.

    我們將在第一季關注它。

  • I think the headline here is that the first half of the year we saw an enterprise market that was declining.

    我認為這裡的標題是,今年上半年我們看到企業市場正在下滑。

  • When we got into the back half of the year it was growing.

    當我們進入下半年時,它正在增長。

  • It was just growing a little less fast than we thought and the recovery was a little less fast than we thought.

    它的成長速度比我們想像的要慢一些,復甦的速度也比我們想像的要慢一些。

  • My expectation is we'll see that segment pop back to the normal rate.

    我的期望是我們會看到該細分市場恢復到正常水平。

  • I also think that we were just a bit ahead of ourselves in terms of how fast the enterprise market was going to recover and grow.

    我還認為,就企業市場復甦和成長的速度而言,我們只是有點超前了。

  • So we have a little bit more of a cautious view of that as we progress through 2014.

    因此,隨著 2014 年的進展,我們對此持更謹慎的態度。

  • I guess the short answer is yes, I'd expect that piece to come back.

    我想簡短的回答是肯定的,我希望那件作品能夠回來。

  • I still believe we'll be at the lower end of the guidance.

    我仍然相信我們將處於指導的下限。

  • We probably were just a little overheated in Q4.

    第四季我們可能有點過熱。

  • - Analyst

    - Analyst

  • I understand.

    我明白。

  • My follow-up would be, Stacy, could you remind us about linearity in DCG?

    我的後續問題是,Stacy,你能提醒我們 DCG 中的線性嗎?

  • Would we have to wait until the second half of 2014 to see the re-acceleration?

    難道要等到2014年下半年才能看到重新加速嗎?

  • Or do you think we could still see growth in the first half of the year?

    或者您認為上半年我們還能看到成長嗎?

  • Thanks.

    謝謝。

  • - CFO

    - CFO

  • No, I think you'll see year-on-year growth rates.

    不,我認為您會看到同比增長率。

  • Remember, the order pattern particularly with some of these big cloud customers can be very lumpy.

    請記住,尤其是一些大型雲端客戶的訂單模式可能非常不穩定。

  • But when you step back and look at it on a year-on-year basis, I think we'll see year-on-year growth rates progress through the year.

    但當你退後一步,逐年觀察時,我認為我們會看到全年的同比增長率不斷進步。

  • - Analyst

    - Analyst

  • Sequentially, though, as well?

    不過,按順序也可以嗎?

  • Or is that second half?

    或者說是後半段?

  • - CFO

    - CFO

  • Sequentially it would be more based on normal seasonality.

    因此,它將更多地基於正常的季節性。

  • But again, for DCG, my litmus test is always year-on-year growth rates.

    但同樣,對於 DCG,我的試金石始終是年成長率。

  • It tends to be a more meaningful indicator.

    它往往是一個更有意義的指標。

  • - Director of IR

    - Director of IR

  • Thanks, Mike.

    謝謝,麥克。

  • Operator, we'll go ahead and take two more questions.

    接線員,我們將繼續回答兩個問題。

  • Operator

    Operator

  • The next question comes from Hans Mosesmann from Raymond James.

    下一個問題來自雷蒙德詹姆斯的漢斯摩西曼。

  • - Analyst

    - Analyst

  • Thank you for letting me ask a question.

    謝謝你讓我問一個問題。

  • Brian, real l simple.

    布萊恩,真的很簡單。

  • If you can, can you split out the types of servers that you sent or shipped in the quarter, be it enterprise, networking?

    如果可以的話,您能否將本季發送或出貨的伺服器類型分開,是企業伺服器還是網路伺服器?

  • If you can provide that level of granularity.

    如果您可以提供該等級的粒度。

  • Thanks.

    謝謝。

  • Or splits.

    或者分裂。

  • - CFO

    - CFO

  • We don't provide that level of granularity.

    我們不提供這種程度的粒度。

  • But if you go back to Brian's prepared, this is Stacy, you go back to Brian's prepared remarks, you heard a lot of data on year-on-year growth rates across cloud, networking, high-performance computing.

    但如果你回到布萊恩準備好的演講,這是史黛西,你回到布萊恩準備好的演講,你聽到了很多關於雲端、網路、高效能運算同比成長率的數據。

  • And then I'm giving you for the enterprise piece, it was growth.

    然後我跟你講的是企業部分,那就是成長。

  • It was just a lower level of growth than we thought.

    只是成長水準比我們想像的要低。

  • If you go back to the investor meeting stuff and take what Brian showed you, what you'll see is for all those other segments, was very consistent with how we modeled it.

    如果你回到投資者會議的內容並採取布萊恩向你展示的內容,你會看到所有其他部分的內容與我們的建模方式非常一致。

  • Enterprise growth but a little bit less growth.

    企業成長但成長有點少。

  • - Analyst

    - Analyst

  • Okay, and then as a follow-up, the Broadwell SoC, timing still second half of 2014?

    好的,那麼作為後續產品,Broadwell SoC,時間仍然是 2014 年下半年嗎?

  • - CEO

    - CEO

  • Yes, I said that we had made great progress on our 14-nanometer yields.

    是的,我說過我們在 14 奈米良率方面取得了巨大進步。

  • We were actually very happy with the results that we got out of Q4.

    事實上,我們對第四季的結果非常滿意。

  • We're squarely on target for our second half launch and for, as Stacy said, starting production in Q1.

    正如史黛西所說,我們完全實現了下半年推出的目標,並在第一季開始生產。

  • - Analyst

    - Analyst

  • Okay.

    好的。

  • Thank you.

    謝謝。

  • - Director of IR

    - Director of IR

  • Thanks, Hans.

    謝謝,漢斯。

  • Operator, if you can go ahead and introduce our last question.

    接線員,可以繼續介紹我們的最後一個問題嗎?

  • Operator

    Operator

  • The final question comes from Jim Covello from Goldman Sachs.

    最後一個問題來自高盛的吉姆·科維羅。

  • - Analyst

    - Analyst

  • Thank you so much, guys.

    十分感謝大家。

  • I appreciate it.

    我很感激。

  • I know that on the pick-up in desktops, you had said it wasn't all corporate refresh, but obviously some of it was.

    我知道,在桌上型電腦的回升方面,您曾說過這並不全是企業更新,但顯然其中有一些是。

  • Is there any chance that enterprise just had a fixed budget and so more of it went to the corporate refresh in the fourth quarter?

    企業是否有可能只有固定預算,因此更多的預算用於第四季度的企業更新?

  • And so they had a little bit less to spend on the data center and that could account for some of the delta there?

    那麼他們在資料中心上的支出會減少一些,這可以解釋其中的一些增量嗎?

  • - CEO

    - CEO

  • We don't have a signal that suggests that, Jim.

    我們沒有信號表明這一點,吉姆。

  • From what we've heard from the OEMs and the customers is more around, like as Stacy said, a little bit of inventory coming into Q3 and into Q4, and then the government shutdown.

    從我們從原始設備製造商和客戶那裡聽到的情況來看,就像史黛西所說的那樣,第三季和第四季出現了一些庫存,然後政府關閉。

  • If you looked at the order pattern, it really followed that from what we could tell from our position as well.

    如果你看一下訂單模式,你會發現,從我們的立場來看,它確實遵循了這一點。

  • - CFO

    - CFO

  • I'd just add to that.

    我只想補充一下。

  • As Brian said earlier, we had record shipments in the desktop on the core i7.

    正如 Brian 之前所說,我們在桌上型電腦中酷睿 i7 的出貨量創下了紀錄。

  • We know that SKU is not an enterprise SKU at all.

    我們知道SKU根本不是企業SKU。

  • That's a customer SKU.

    這是客戶 SKU。

  • Our data as we look across, was consumer was strong, all-in-ones were strong, i7 was strong.

    從我們的數據來看,消費者強勁,一體機強勁,i7 強勁。

  • A lot of things we know don't go into enterprise were strong.

    很多我們知道沒有進入企業的東西都很強大。

  • I don't think that was the driver of what happened in the client side of enterprise.

    我不認為這是企業客戶端發生的事情的驅動因素。

  • And we don't have any data points that would suggest that was what happened on the server side of enterprise.

    我們沒有任何資料點表明企業伺服器端發生了這種情況。

  • - Analyst

    - Analyst

  • If I could just, quickly on the follow-up on the tablet.

    如果可以的話,請快速在平板電腦上進行後續操作。

  • Could you give us some perspective on the design wins that are not being supported by the contra-revenue?

    您能否給我們一些關於沒有反收入支持的設計勝利的看法?

  • In other words, maybe a split between design win activity that is supported by contra-revenue versus ones that aren't?

    換句話說,也許是由對沖收入支持的設計獲勝活動與非收入支持的設計獲勝活動之間的劃分?

  • - CEO

    - CEO

  • We can't go into specifics of each one.

    我們無法詳細說明每一項的具體情況。

  • - Analyst

    - Analyst

  • Sure, maybe just percentages or something.

    當然,也許只是百分比之類的。

  • - CEO

    - CEO

  • I'd say the majority of the projects that we have in 2014 use some level of contra-revenue to bring their BoMs, the bill of materials, actually.

    我想說的是,我們 2014 年的大多數專案實際上都使用一定程度的對沖收入來帶來他們的 BoM(物料清單)。

  • We don't use our acronyms everywhere, their bill of materials to parity.

    我們不會到處使用我們的縮寫詞,他們的材料清單是對等的。

  • And so it really is very SKU by SKU dependent.

    因此,它確實非常依賴各個 SKU。

  • It's not a fixed number out there.

    這不是一個固定的數字。

  • We work with each OEM, and that's how I'm comfortable that we're going to work this out over the next year or so.

    我們與每個原始設備製造商合作,這就是我對我們將在未來一年左右解決這個問題感到滿意的原因。

  • We work with each OEM depending on are they targeting a high-end SKU, a mid-range SKU, a low-level SKU?

    我們與每個 OEM 合作,取決於他們的目標是高端 SKU、中檔 SKU 還是低階 SKU?

  • What type of display and graphics and all of those things they want to put in that system, we have a delta in BoM that we're working out and so we go and work with them on that.

    他們想要在該系統中放入什麼類型的顯示和圖形以及所有這些東西,我們正在製定 BoM 中的增量,因此我們會與他們一起解決這個問題。

  • And it's literally at that level, SKU by SKU.

    確實是在這個級別上,逐一 SKU。

  • - Analyst

    - Analyst

  • Terrific.

    了不起。

  • Very helpful.

    很有幫助。

  • Thank you.

    謝謝。

  • - Director of IR

    - Director of IR

  • Thanks, Jim.

    謝謝,吉姆。

  • And thank you all for joining us today.

    感謝大家今天加入我們。

  • Jamie, please go ahead and wrap up the call.

    傑米,請結束通話。

  • Operator

    Operator

  • Ladies and gentlemen, that does conclude the conference for today.

    女士們、先生們,今天的會議到此結束。

  • Again, thank you for your participation.

    再次感謝您的參與。

  • You may all disconnect.

    你們都可以斷開連線。

  • Have a good day.

    祝你有美好的一天。