Instant Reaction: Intel Gives Strong AI-Fueled Outlook
4/23/202610 min
Intel gave a strong sales forecast for the current period, signaling that the struggling chipmaker is finally beginning to benefit from the giant build-out of artificial intelligence infrastructure.
Revenue will be $13.8 billion to $14.8 billion in the quarter ending in June, the company said Thursday in a statement. Analysts, on average, estimated $13 billion, according to data compiled by Bloomberg. Earnings, excluding some items, will be about 20 cents a share, compared with a Wall Street prediction of 9 cents.
The upbeat outlook suggests that Chief Executive Officer Lip-Bu Tan is making progress on a challenging comeback plan. After lining up major investments in Intel last year — helping to strengthen the company’s balance sheet — Thursday’s results suggest he’s now delivering on a promise to improve its operations.
Intel shares rose 14% in extended trading. The stock had gained 81% this year before the results were released, closing at $66.78.
For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
- Bloomberg Intelligence Senior Semiconductor Analyst Kunjan Sobhani
- Bloomberg Tech co-host Ed Ludlow
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First 90 secondsSpeaker 00:01
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Speaker 10:44
[upbeat music] So there's a lot of noise about AI, but time's too tight for more promises. So let's talk about results. At IBM, we work with our employees to integrate technology right into the systems they need. Now, a global workforce of three hundred thousand can use AI to field their HR questions, resolving ninety-four percent of common questions. Not noise. Proof of how we can help companies get smarter by putting AI where it actually pays off, deep in the work that moves the business. Let's create smarter business. IBM.
Speaker 21:26
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