Intel foresees PC market stabilizing as it misses earnings target
Intel has said that the company could see "signs of stabilization" for the traditional computer market with its fourth quarter PC sales getting a boost of around two percent to 8.6 billion dollars.
Intel CEO Brian Krzanich said that he foresees the PC market starting to stabilize because the company pulled in the same amount of money from PCs this time last year, and he thinks Intel chips are a pretty decent measure of how well the PC industry is doing.
He said that the company sold seven percent more desktop PC chips in the fourth quarter, the Verge reports.
Intel CFO Stacy Smith said that tablets are also contributing to the company's sales now.
However, Intel reported moderate gains in its own revenue and profits for the fourth quarter of 2013.
According to the report, the company booked smaller profits and revenue of 9.6 billion dollars and 52.7 billion dollars for 2013, as compared to 11 billion dollars and 53.3 billion dollars respectively in 2012.
The results reported by Intel fell just short of the earnings expected by the Wall Street analysts, the report added.
(Posted on 17-01-2014)