(Reuters) – Intel Corp (INTC.O) on Thursday forecast second-quarter earnings below Wall Street views as it cited the cost of readying a new PC chip and said it could not make a forecast for the full year because of economic uncertainty caused by the coronavirus pandemic.
FILE PHOTO: U.S. chipmaker Intel Corp’s logo is seen on their “smart building” in Petah Tikva, near Tel Aviv, Israel December 15, 2019. Picture taken December 15, 2019. REUTERS/Amir Cohen
Intel’s shares fell 6% in extended trading, as executives tried to brace investors for the possibility that a short-term bump in demand for its processor chips from cloud computing centers and locked-at-home consumers buying PCs could become a slump if the economy enters recession.
“It’s really hard to think about the second half in terms of how demand is going to look compared to what we ultimately thought when we first gave guidance,” Chief Financial Officer George Davis told investors on a conference call.
The COVID-19…
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