Strength in PCs leads Intel to raise Q3 revenue guidance
The PC market is showing signs of recovery, with Intel increasing its revenue guidance based on improved chip shipments.
The chip maker has raised its revenue guidance for the third quarter to $15.6 billion, plus or minus $300 million, an improvement from $14.9 million, plus or minus $500 million.
That's due to PC makers replenishing laptop and desktop inventory, which means Intel is shipping out more chips. It's likely in anticipation of the holiday season, when PC shipments rocket.
"The company is also seeing some signs of improving PC demand," Intel said in a statement.
In the second quarter of the year, PC makers slowed down chip orders and were clearing out existing stock of laptops and desktops. PC shipments declined by 4.5 percent during that period, according to IDC.
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