The record decline in PC sales weighed more than expected on Intel’s sales. Fourth-quarter revenue fell 32 percent to $14 billion, the chipmaker said.
Analysts had expected an average of $14.46 billion. For the first quarter, Intel announced a sales volume of $10.5 to $11.5 billion. According to Refinitiv data, industry experts had expected $13.93 billion. Intel shares fell 7 percent after the New York close.
The computer market – krone.at reported – experienced its worst crash in decades at the end of 2022 after a pandemic-related high in the years before. Market researcher Gartner, whose data goes back to the mid-1990s, has never seen such a sharp decline.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
