NEW YORK: Intel on Thursday missed third-quarter revenue estimates for its data-centre chip unit as the COVID-19 pandemic crippled sales to government and business customers, sending its shares down 10 per cent.
The pandemic has given Intel a boost in the form or surging laptop sales as employees and students work and learn from home. Sales in its PC group were US$9.8 billion, beating analyst estimates US$9.09 billion, according to FactSet. "You're seeing the demand shift from desktops and higher-end enterprise PCs to the entry-level consumer and education PCs," Chief Financial Officer George Davis told Reuters in an interview."Even though the volume is good, your are coming down, so that impacts your gross margins a little bit.
Intel, however, said a 10-manometer chip factory in Arizona had reached full production capacity and that it now expects to ship 30 per cent higher 10nm product volumes in 2020 compared to January expectations.
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