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Instant Reaction: Intel Gives Encouraging Forecast After PC Market Rebounds
Intel gave an upbeat revenue forecast after personal computer demand grew, boosting optimism about a comeback attempt by the embattled chipmaker.
Fourth-quarter sales will be $12.8 billion to $13.8 billion, the company said in a statement Thursday. The midpoint of that range, $13.3 billion, was just below Wall Street’s $13.4 billion average estimate.
But some analysts were still including revenue from a unit that Intel just spun off — money that wasn’t part of the company’s forecast.
The shares gained about 3% in late trading after closing at $38.16.
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