Intel Corp Revenue Forecast Improves For First Time In 2 Years
For the first time in 2 years, Intel Corp has raised its quarterly revenue forecast as one of the premiere supplier for personal computer parts. This improvement in revenue forecast comes amidst improving PC demands with shares rising from as much as 4.1 percent to a 15 year high of $38.05 just this past Friday. As tech users have been gradually shifting away from PCS to mobile phones, Intel has been experiencing a decline in the demand for PC sales. Sales were estimated to have declined as much as 3 percent to $7.3 billion in the latest quarter across the industry and this includes the sales of chips for mobile phones/tablets. However recently revenue has rose as much as 7.5 percent in the third quarter for HP Inc. and Shebly Seyrafi, FBN Securities analyst believes that Intel and HP are spearheading a resurgence in PC sales and PC sales are expected to decline less than the high-single-digit decline consensus in 2017. Intel has publicly announced they expect the third quarter to yield $15.6 billion with a standard deviation of about $300 million, this is compared to the prior forecast of $14.9 billion with a standard deviation of $500 million which would make it the highest-ever quarterly revenue for Intel according to analysts at Thomson Reuters data. Shares of rival Advanced Micro Devices Inc also rose about 1 percent and shares of Intel were up 2.6 percent at $37.53 according to afternoon trading.
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