(Jan 27): Intel Corp gave one of the gloomiest quarterly forecasts in its history after a personal-computer slump ravaged the chipmaker’s business, sending shares tumbling and further setting back turnaround efforts. Intel shares fell 9.3% on Friday (Jan 27) in premarket trading following the announcement. That would help Intel shore up its finances, which were already stretched by ambitious plans to upgrade its technology. The PC market will be a particular weak spot, shrinking to the lower end of Intel’s range of predictions — or about 270 million units. Intel still dominates the market for processors used in servers, with a share of more than 70%.

Source: The Edge Markets January 27, 2023 18:15 UTC