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Intel forecast tops estimates on information chips; shares surge

Intel gave a better-than-projected second-quarter gross sales forecast and raised its earnings outlook for the 12 months, proving that for now the pc trade simply can’t wean itself of its merchandise.

Gross sales within the present interval will likely be $16.three billion, the Santa Clara firm mentioned Thursday. That compares with a median analyst estimate of $15.6 billion. Earnings per share will likely be 85 cents. Primarily based on the robust begin to the 12 months, Intel boosted its forecast for 2018 income by $2.5 billion, to $67.5 billion.

The shares, which have outperformed different trade shares this 12 months, jumped almost eight p.c in prolonged buying and selling following the announcement.

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