From Bloomberg Markets and Finance.
Intel Corp. gave a stronger-than-anticipated revenue forecast for the current period, offering investors a glimmer of hope as they wait for a turnaround under new Chief Executive Officer Lip-Bu Tan.
Third-quarter sales will be $12.6 billion to $13.6 billion, the company said in a statement Thursday. Analysts on average had projected a number at the low end of that range.
Intel is benefiting from a resurgence in the personal-computer industry, driven in part by manufacturers’ efforts to build up inventory before tariffs hit. But the Silicon Valley pioneer still faces a variety of challenges. It has lost market share to rivals and is struggling to attract customers to its foundry business, which makes chips for outside clients. It also lacks products that can satisfy the massive demand for AI systems.
Senior Analyst Jay Goldberg of Seaport Research Partners says he believes the company doesn’t have a coherent AI strategy.
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