Intel (INTC.O) forecast fourth-quarter revenue and margins above Wall Street estimates on Thursday, optimistic about a healthy rebound in personal computer sales, improvement in its data center business, and a growing lineup of customers seeking its manufacturing services.
A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File photoforecast fourth-quarter revenue and margins above Wall Street estimates on Thursday, optimistic about a healthy rebound in personal computer sales, improvement in its data center business, and a growing lineup of customers seeking its manufacturing services.
Heavy manufacturing investments to support Gelsinger's turnaround plans have taken a toll on the company's gross margin, which shrank to the mid-30s in the second quarter from over 60% in 2020. The adjusted gross margin came to 45.8% in the third quarter, compared with estimates of 42.7% according to LSEG data.
He declined to say how many chips Intel will manufacture for those companies, but said the first has pre-paid and is "a very significant customer." "These wins are coups against TSMC," said Glenn O'Donnell, research director at Forrester, referring to Taiwan Semiconductor Manufacturing Co
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