Some quick thoughts on Intel, Sandisk...and AMD. You can make sense of Intel's earnings miss via Sandisk's updated revenue mix. Sandisk: Around 88% of Sandisk's Q/Q revenue gain came from Data Center. However Ex-DC revenue, which includes edge devices like PCs, grew by only 4% despite price increases. Follow that through to Intel & Lip-Bu Tan's comments: "Turning to our client business, in recent weeks, our customers began signaling a PC slowdown based on the memory prices and availability." While the market had already somewhat priced-in a weak PC market for Intel earlier in the year, I don't think anyone expected it to be *this* quick. I therefore naturally wonder whether this is a negative (but smaller) read on AMD, whose gaming business was already down 31% Y/Y in Q2 due to memory constraints. I ultimately think that's why AMD's stock is currently down 7% after-hours.