Intel forecasts loss of revenue in Q2 due weak demand and supply-chain issues
Beat top and bottom lines estimates but indicated weak second-quarter guidance
By Arghyadeep Dutta
Published - Apr 28, 2022, 11:16 PM ET
Last Updated - Feb 24, 2024, 05:13 AM EST
PC chip business has weakened after Apple shifted to its own processors
Chipmaker Intel Corp (NASDAQ: INTC) on Thursday forecasted lower-than-expected second-quarter earnings on worries of weak demand in personal computers, its largest market, and supply-chain uncertainty due to COVID-19 lockdowns in China.
Rising inflation, renewed restrictions in China and uncertainties around the Russia Ukraine war have shifted consumer spending away from gadgets, Intel said.
However, last year the chipmaker generated more than half of its revenue by selling processors for PCs.
