The outlook suggests that Chief Executive Officer Pat Gelsinger still has a long way to go in restoring Intel’s former prowess. Though the chipmaker’s personal computer business is recovering, demand is weakening in the lucrative market for data centre chips.
Intel Corp tumbled in late trading after delivering a disappointing forecast on Thursday, renewing doubts about a long-promised turnaround at the once-dominant chipmaker.
Intel’s first-quarter projection for both sales and profit came in well short of Wall Street estimates, and executives struggled to soothe concerns during a conference call with analysts.
