Chipmaker Intel soars on signs of PC market recovery

- Intel rose nearly 8% on Friday and sparked a jump in chip stocks after its upbeat forecast signaled that the personal computer market was rebounding from its quarters-long slump.

Intel forecast fourth-quarter revenue and margins above Wall Street estimates on Thursday, after it reported a smaller-than-feared decline in the segment that houses its PC business for the July-September period. "The foundry business is slowing taking shape. The announcement of new customers is a clear positive that shows there is customer interest in what Intel brings to the table," Logan Purk, analyst at Edward Jones, said.

"There's a lot of interest in that. We're now supply constrained on Gaudi and racing to catch up to that," Gelsinger said.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Amazon, Intel earnings, Sam Bankman-Fried trial resumes: Yahoo Finance LiveTech giants Amazon (AMZN) and Intel (INTC) will both report their third quarter results today. In New York, the fraud trial of disgraced FTX founder Sam...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Intel issues upbeat forecast as Q3 earnings beatIntel (INTC) reported third quarter earnings that were better than expected. Adjusted earnings were $0.41 per share versus estimates of $0.21. Revenue was...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »