His more immediate predecessors have been less illustrious. Mr Tan inherits a company that has lost its edge. Intel is faltering in areas where it once led, from designing processors to running advanced chip factories. Reviving the firm may be the hardest task any of its leaders has faced.

Today’s earnings call is notable as the first for the company since Lip-Bu Tan (pictured) took over the reins as the company’s new chief executive. He joined the company in March, ending its months-long search for a successor to previous CEO Pat Gelsinger, who was forced to resign in December amid pressure from board members and investors.

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