Intel raised its guidance for the second quarter on the back of strong demand for business PCs, pushing shares in the world’s biggest chipmaker by sales up by more than 5 per cent in after-hours trading.
Demand for the PCs – the market that Intel’s chips dominate – is stabilising as companies begin to spend more on new computers, even as consumers continue to move towards tablets and smartphones.
Intel shares rose 5.2 per cent to $29.42 after it said it expected $13.4bn-$14bn in sales in the three months to the end of June, increasing the lower end of its guidance by 7 per cent. The average analyst estimate had been $13bn.
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