Intel tumbles in after-hours trading, revenue expectations flat and CEO says working hard to address production issues.

Intel's stock price plummeted by 13% in after-hours trading, with CEO Chen Liwu giving a flat outlook and warning that the chipmaker is facing production issues. Revenue and profit expectations for the first quarter are far below Wall Street's forecasts. During a conference call with analysts, Chen Liwu said the company needs "time and determination" to turn things around, leading to further drop in stock price. Production obstacles have hindered the company's recovery, disappointing investors who were expecting new products to provide a big boost. "We are in a multi-year development phase," the CEO said. Chen Liwu also mentioned in an interview that demand is "quite strong" and the company is working to address production issues. However, he also pointed out that Intel used up most of its inventory in the fourth quarter. As the conference call progressed, Intel's stock price dropped to $47.25 in after-hours trading.