(Bloomberg) — Intel Corp. withdrew its full-year sales forecast, citing “significant economic uncertainty” caused by the Covid-19 pandemic. The company’s shares fell more than 5% in late trading.The world’s largest semiconductor maker reported a 23% jump in first-quarter revenue and better-than-projected profit, bolstered by demand for chips that run the laptops and server machines companies need to keep people working from home. Though it gave an optimistic second-quarter sales target, Intel’s profit outlook fell short of estimates, sparking concerns that a spending slowdown will drag on business for the rest of 2020.Sales in the current period will be about $18.5 …read more
Source:: Yahoo Finance
