Intel CEO Says Government Shutdown And Trade War Is Affecting On Businesses

Intel CEO Says Government Shutdown and Trade War Is Affecting On Businesses

Business

The current political conditions in the US are not good for the business. From last few days because of the government shutdown and trade war issue many enterprises are seeing a downfall in their sales. According to the Intel’s CEO Robert Swan, the current geopolitical situation is affecting on the company’s existing business because it has reduced the consumer purchasing power due to which the company is not abling to sell its high products. The leading tech company Intel a few days ago released its Q4 report which stated that Intel has earned lower than expected amount of revenue and profit. However, according to the CEO of the company the trade war and government shutdown shall be blamed for their low performance. The company’s officials have said that they might get less amount of revenues in the first quarter of 2019 also.

Overall the tech industry is not going through a good phase especially Intel since due to poor annual performance the company’s shares prices have reduced by high margin and investors are now worrying about the company’s next year performance also. According to CEO Robert Swan, Intel might not perform well in the first half of the year, but they are expecting the right amount of sales in the third or fourth quarter of 2019. The government shutdown and trade war issues are still affecting many tech companies whose primary income comes from overseas. However, some experts think that blaming geopolitical condition for the lower of the amount of revenue is not a good thing and Intel needs to reconsider its policies.

However, while answering further questions, Robert Swaan who is the interim CEO of the Intel said he is not seeing himself as the full-time CEO of the company and might not want to sustain his position in the future.

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