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Intel Reports Q2 Earnings Beat – Expects PC Market To Keep Growing Into 2022

By John F. Heerdink, Jr.

Intel Corporation (INTC) released their second-quarter ended June 26 earnings, reporting $18.5 billion in adjusted sales beating estimates of $17.80 billion. The company earned $1.28 per share higher than estimates of $1.06. Revenue from its data center business decreased 9% to $6.5 billion in the quarter, while its personal computing business revenue increased 6%, beating estimates.

Intel raised its previous annual forecast of $1 billion from its earlier $72.5 billion, beating expectations of $72.80 billion. Intel expects adjusted third-quarter revenue of about $18.2 billion, slightly above estimates of $18.09 billion.

Intel Chief Executive Officer Pat Gelsinger expressed how the company could sell more chips if it could manufacture more chips. Intel still faces supply constraints from its own suppliers of materials and equipment.

“We are helping them build factories as fast as they can. But it will be one of those things that just takes a couple years to fully catch up to this explosive demand we’re seeing, and we have better tools to address it than others,” stated Gelsinger.

Gelsinger also informed on a conference call that he expects the PC market to keep growing into 2022, in contradiction to the predictions of some analysts.

Intel Corporation (INTC) seeks to expand the boundaries of technology to provide the most amazing experience possible while designing, manufacturing, and selling integrated digital technology globally. To learn more about Intel Corporation (INTC) and to track its progress please visit the Vista Partners Intel Corporation Coverage Page



Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Intel sales forecast implies rocky second half of 2021 amid supply constraints in Reuters)


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