$INTC Meets Expectations Despite Declining PC Sales

“NEW YORK (AP) — Intel Corp., the world’s largest maker of chips for PCs, is remaining steadfast amid a drastic slowdown in computer sales.

Intel on Tuesday said it’s keeping its sales and margin forecasts for this year, even as first-quarter PC sales plunged 14 percent from a year ago, as measured by research firm IDC. The company is helped by rising shipments of chips for servers.

The Santa Clara, Calif., chipmaker also met analyst forecasts for the just-ended quarter. It earned $2 billion, or 40 cents per share, in the January to March period. That was down 27 percent from $2.74 billion, or 53 cents per share, a year ago.

Revenue was $12.6 billion, slightly below the midpoint of Intel’s own forecast range. The figure was down 2.3 percent from $12.9 billion a year ago….”

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