Intel forecasts disappointing revenue; shares fall

Chipmaker Intel Corp forecast revenue and gross margins for this quarter that disappointed investors, sending its shares down 2.7 percent in extended trading. Revenue from its mainstay PC business fell about 3 percent to $8.9 billion in the fourth quarter from the prior quarter, raising doubts about a long-anticipated recovery of the personal computer business. “In 2015 we’re predicting kind of flat, nothing spectacular but stable, is how I would call it,” Intel Chief Financial Officer Stacy Smith told Reuters in an interview. Despite the tepid PC market, Intel is targeting revenue growth this year in the “mid-single digit percentage points”, which Smith said would be helped by faster growth in providing chips for data centers and Internet-connected gadgets.

Quoted from Intel forecasts disappointing revenue; shares fall on Gadgets News Headlines – Yahoo! News

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