Intel disappoints Wall Street
 

Booming sales, but profits down

Chipzilla disappointed the cocaine nose jobs of Wall Street by turning in a second quarter profit forecast well short of their great expectations.

Intel raised its annual sales outlook on the booming demand for personal computers, but its second quarter profit forecast fell short of analyst expectations as the company spends heavily to get its manufacturing operations back on track and catch up to rivals with faster chips.

The company also missed first-quarter expectations in its closely watched data centre chip unit.

Pat (Kicking) Gelsinger, who returned to Intel as its chief executive earlier this year, said the chipmaker has begun to resolve its manufacturing problems. In March, it announced a significant expansion plan to build new factories in the United States and Europe.

Intel, one of the few remaining companies in the processor chip industry that both designs and manufactures its own chips, has said it has beat out rivals during a global chip shortage by operating its own factories. But the company said shortfalls of other third-party components needed to build complete computers could hold back its sales this year.

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