- Intel Corp reported a 20% jump in quarterly revenue, reaching $19.7 billion, surpassing expectations. The company also announced a $10 billion share buyback plan which boosted its stock price by 6%.
- The tech giant’s data center revenue rose by 30% to $7.5 billion, driven by increased demand for cloud services during the pandemic. Intel’s CEO predicts continued growth in the data center market as companies invest in digital transformation.
- Despite facing stiff competition from rivals like AMD and Nvidia, Intel remains optimistic about its future prospects and is investing heavily in research and development to stay ahead in the semiconductor industry.
Read more at Barchart: Bank of America Warns Intel Stock Could Fall from Here. Should You Sell INTC Now or Keep Chasing New Highs?