Intel Shares Surge as Company Predicts Sales Growth on PC Rebound and Competitive Chips
-
Intel shares rose 13%, the most in nearly 3 years, after predicting sales growth in Q4 fueled by PC market recovery and more competitive products.
-
CEO Pat Gelsinger said turnaround is underway but will take over a year to fully regain tech leadership.
-
Earnings beat expectations and PC unit showed signs of rebound, but server business still struggling.
-
Gelsinger confident Intel can restore margins to over 60% once it regains chip production leadership.
-
While competing with Nvidia in data center market, expects balance to shift back to Intel's chips to actually run AI models.