Intel's Strong Earnings and Positive Outlook Drive Stock Surge
Intel has forecasted fourth-quarter revenue and margins above Wall Street estimates, driven by a rebound in personal computer sales, improvement in its data center business, and a growing lineup of customers seeking its manufacturing services. The company's gross margins rose faster than expected due to the easing PC slump and stabilization of its server chip business. Intel also secured three customers for its chip contract manufacturing business and expects to close a deal for a fourth customer before year-end. Despite facing competition in the data center chip market, Intel remains optimistic about its prospects and expects a return to growth in the PC market during the holiday season.