Intel, driven by the demand for chips, raises expectations

U.S. semiconductor company Intel on Thursday released its annual forecast for the quarterly results that exceeded expectations, with the group taking advantage of the growing demand for electronic components with the epidemic.

Also read:Intel is investing $ 20 billion in two chip factories

“Accelerates the digitization of all products, which creates a huge growth opportunity for our company and our customers, which is in our core business and emerging operations.”Intel CEO Pat Kelsinger said in a statement. He took over as chairman of the company earlier this year. The group expects revenue of $ 77.6 billion for the full year, up from $ 77 billion previously, and adjusted returns of $ 4.80 per share, compared to $ 60 4.60 previously. In the second quarter, its revenue stagnated at $ 19.6 billion compared to the same period in 2020.

The group recorded a net profit of $ 5.1 billion, which is almost constant. Excluding reported and exceptional items per share, the profit reached 28 1.28, which is higher than the 6 1.06 that analysts expect.

Growing demand

Manufacturers of computers and other electronics have seen the demand for their products explode in the early days of the epidemic with the proliferation of telecommunications and home entertainment, driven by microchips. Other industries, such as the automobile, also need it for their products, which are now electronically loaded and currently unable to obtain it.

To meet growing demand, Intel announced plans in March to invest $ 20 billion in two new plants in Arizona. Le Wall Street Journal Intel, particularly facing competition from DSMC and Samsung, recently said it was in talks to buy Global Foundries in a $ 30 billion deal to boost production.

Intel’s title lost 1.9% on electronic transactions after the close of the New York Stock Exchange.