How the he-l did ELT didnt see this coming. What was that exuberance of crazy hiring that they went on to do in last 2 years.
Last quarter they said this is the bottom only to find out Q4 went further down.
And while Intel is eager to call Q4 as bottom, the reality is Q1 will go further down and that is why they took the actions.
But how bad one has to be in their projection that it doesnt even hold for a quarter. Even after knowing that we are in tough times, they didnt tighten fast enough in Q3 last year.
These folks are experienced people who have seen many cycles. How did they not see this ?
Where was Andy Grove last year "Only the paranoid survive".