Chipmaker Intel Corp on Thursday said slumping gross margins will improve in the second half of the year, a welcome sign in a difficult economy that sent shares up 4% in after-hours trading.
A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photoon Thursday said slumping gross margins will improve in the second half of the year, a welcome sign in a difficult economy that sent shares up 4% in after-hours trading.
During a conference call with investors, the company projected that adjusted gross margins will climb above 40% in the second half, having hit historic lows in the first half of the year. That was enough to overcome concerns about current profitability.has made some chip industry experts hopeful that an inventory build-up has cleared out, paving the way for fresh orders.
Intel, struggling to make money, predicted second-quarter adjusted losses of 4 cents per share, worse than the 1 cent per share profit that analysts had estimated according to Refinitiv data. "It was a topic of discussion for many meetings that I had there," Gelsinger said. "We don't have a clear view of when that might occur, but we continue to work hard to reach approval of the acquisition."
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