Intel boosted its third-quarter revenue forecast by $700 million Friday, saying PC sales are running stronger than expected. The world’s largest chipmaker also said it expects to be more profitable in the quarter than it had projected.
The company now forecasts revenue in the quarter will total $15.6 billion. The news — and details of Intel wireless chips inside Apple’s latest iPhone — sent Intel’s stock up 3 percent to $37.67, its highest close since late 2014.
Just last spring, prolonged decline in PC sales triggered a massive restructuring at Intel, which plans to eliminate 12,000 jobs by the middle of next year. Intel is Oregon’s largest private employer, and the cutbacks began with 784 layoffs in April.
