Executive Summary

Intel held its annual investor meeting at its Santa Clara, California headquarters on May 8, 2019. Key points from the meeting include:

• Expanding the total addressable market (TAM): Intel plans to expand its total addressable market to $288 billion in 2023 from $52 billion in 2018, by expanding its focus on data-centric technologies.
• Extending product leadership: The company aims to redefine “Intel Inside” as a platform inside all kinds of devices in computing centers, PCs, energy, manufacturing, homes and vehicles.
• Improving execution, innovation and culture: Intel pledges to meet customer demand, recoup process leadership and deliver on schedule with predictability while operating as “one Intel,” remaining customer obsessed and practicing inclusion.
• Disciplined investment, profitable growth: The company plans to make organic investments in research and development and capital investments for growth, make strategic investments, and return capital to shareholders while maintaining a strong credit rating and financial flexibility.

Financial targets for the next three years include low-single-digit revenue growth, 32% operating margins and EPS growth in line with revenue but free cash flow growing faster than earnings.

Intel discussed technologies such as the Internet of Things (IoT), aggregation of computing power at the edge of the network, video inference and high-performance computing as drivers for targeted areas such as retail and manufacturing.