Intel Corp. on Thursday cemented the market view that a prolonged slowdown in the chip industry is starting to lift after forecasting full-year revenue and profit above analysts’ estimates driven by cloud computing demand.
“What we’re seeing is very strong demand from cloud players,” Davis told Reuters. “I have to give credit to the hyperscalers for this quarter.” Intel’s positive outlook follows an equally upbeat forecast from chipmaker Texas Instruments on Wednesday. Analysts view 2020 as a recovery year for semiconductors, driven by 5G spending for both smartphones and network upgrades.
Intel has doubled down on its core markets such as personal computers and data centers, both of which beat analysts’ fourth-quarter expectations.
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