Intel raises its annual forecast

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US semiconductor company Intel (INDC) on Thursday released its annual forecast for its quarterly results that exceeded expectations.

“Digitalization of all products accelerates, creating a huge growth opportunity for our business and our customers, our core business and emerging businesses,” said Intel Managing Director Pat Kelsinger in a statement. He took over as chairman of the company earlier this year.

The group expects full-year revenue of $ 77.6 billion (US $), up from US $ 77 billion previously, and adjusted revenue to US $ 4.80 (US $) a share compared to the previous US $ 4.60.

In the second quarter, its revenue stagnated to $ 19.6 billion compared to the same period in 2020.

The group recorded a net profit of US $ 5.1 billion, which is almost constant. Reported on a per share basis, excluding specialty items, the profit reached $ 1.28, higher than the $ 1.06 expected by analysts.

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.

The Wall Street Journal recently reported that Intel, which faces competition from DSMC and Samsung in particular, is 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.