Intel's bullish sales forecasts powered by data centre revival [Business News Network (BNN) Energy & Resources (Canada)]
Intel Corporation (INTC)
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Source: Business News Network
Intel's bullish sales forecasts powered by data centre revival Intel Corp. gave bullish quarterly and full-year revenue forecasts, driven by a surge in demand for chips that power large cloud-computing centers. The shares jumped as much as 7.8 per cent in late trading. Sales in the current quarter and in 2020 will be well above what analysts had predicted and are outpacing normal industry trends, the chipmaker said on Thursday. Fourth-quarter revenue and profit also topped Wall Street’s highest estimates. As the biggest provider of server chips, Intel is benefiting from a rush to build capacity in data centers operated by companies such as Alphabet Inc.’s Google, Facebook Inc. and Amazon.com Inc’s AWS. “We’re well ahead of our expectations in the quarter and it’s continuing into this year,” Chief Financial Officer George Davis said in an interview. “That’s just a great dynamic.” Revenue from cloud-service providers, which offer computing power and storage via the internet, surged 48 p
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