Intel plans to trim more than 5,000 jobs from its workforce this year in an effort to boost its earnings amid waning demand for its personal computer chips.
Intel Corp. said Monday that it now expects fourth quarter revenue of $13.4 billion to $14 billion. It had previously forecast revenue of $14.2 billion.
Advanced Micro Devices Inc. said its net income nearly doubled in the first quarter as the computer industry benefits from strong corporate demand.
Advanced Micro Devices Inc. narrowed its third-quarter loss slightly, as the chip maker’s remaining stake in factories it spun off last year dragged down the results.
Intel Corp. offered an encouraging sign Tuesday for what the computer industry might expect from the all-important holiday shopping season.