Intel expects the PC market to shrink by 10% in 2027, following a projected decline of 12% this year. (AFP pic)SAN JOSE: Intel shares have plunged by more than a fifth after the chipmaker issued a disappointing business forecast on Thursday, reported German news agency dpa.
The company is grappling with a slowdown in PC sales due to soaring memory prices, as well as supply chain problems affecting chips for data centres, where demand remains strong.
Intel forecast revenue of between US$15 billion and US$16 billion for the current quarter, below analysts' expectations of around US$17 billion. Its forecast adjusted earnings per share of 25 cents also fell well short of the market expectation of 43 cents. The shares fell by around 22% in after-hours trading in the US.
