UPDATE 2-Intel eases chip demand concerns with raised forecast, shares gain [Reuters]
Intel Corporation (INTC)
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Source: Reuters
Intel eases chip demand concerns with raised forecast, shares gain - Reuters 3 Min Read (Reuters) - Intel Corp forecast current-quarter profit and revenue above estimates and raised its full-year revenue forecast on Thursday, allaying concerns about a global semiconductor sales slowdown and curbs on U.S. sales to Huawei Technologies. Separately, the company said it would sell the majority of its smartphone modem business to Apple Inc for $1 billion. Intel’s shares rose 6.5% to $55.56 in extended trading. The chip industry is in a slowdown, with research firm Gartner forecasting global semiconductor revenue to drop 9.6% to $429 billion in 2019. Chipmakers have also been hit by the U.S.-China trade tensions, including tariffs on some products and
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