Ticker: INTL
Performance in the past 12 months: -7%
"Fourth-quarter revenue of $18.7 billion was up 9%, but short of our expectations as a result of a dramatically weakening modem demand, lower overall growth in China, cloud service providers absorbing capacity, and a weakening NAND pricing environment," CFO Robert Holmes Swan told investors.
Swan added: "In October, we provided a preview of our outlook for 2019. At the time, we described a combination of tailwinds and headwinds that were balanced. The tailwinds were an expanded and growing TAM, product momentum, and business mix. The headwinds were tougher compares following an especially strong 2018, increasingly competitive environment and global trade. Since that time, trade and macro concerns, especially in China, have intensified."
Source: Bloomberg