Intel Bucks PC Industry Decline With Upbeat Sales Forecasts
- Demand from cloud providers boosts growth in data center unit
- PC-division revenue buoyed by higher prices for premium chips
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Intel Corp. has a message for investors who are betting the semiconductor maker’s dominance is waning: Not so fast.
The company’s Data Center Group -- which sells server chips, a business where Intel has almost 100 percent market share -- posted sales of $4.4 billion in the second quarter, a gain of 9 percent. Revenue in the personal-computer processor division rose 12 percent even as the overall PC market shrank. The company also gave an upbeat forecast for third-quarter and annual revenue, sending the shares up as much as 4.5 percent in extended trading.