But the company's very conservative forecast for growth in the next 12 months helped send the stock down 3.3 percent on the first day after the announcement.

Aiming to over-deliver on conservative forecasts instead will build credibility with shareholders.

"Never over-promise on performance: aim to over-deliver on conservative forecasts instead."

News of the conservative first-quarter forecast helped send the stock down another 90 cents in after-hours trading.

But Intel disappointed Wall Street slightly with a conservative forecast for the second quarter.

Mr. Panetta called today's report a "credible, conservative forecast."

Next year's budget planning will be based on a conservative but realistic forecast.

Lord Wolfson, the chief executive, is known for issuing conservative forecasts and then beating them.

Analysts however, see this as another conservative forecast.

The conservative forecast for revenue growth dimmed analysts' enthusiasm.