Intel Corp. boosted its third-quarter sales forecast Monday amid stronger-than-expected demand for its microprocessors.
The announcement came the day rival Advanced Micro Devices Inc., a smaller chip maker that has struggled financially in recent quarters, hoped to own the headlines with the launch of its new server chip.
Intel added $200 million to the top of its financial outlook, saying it now expected sales of $9.4 billion to $9.8 billion in the current quarter. That compares with the previous forecast of $9.0 billion to $9.6 billion.
Santa Clara, Calif.-based Intel also told investors that it expected profit to be at the upper range of the company's previous guidance. Gross profit margin, a key measure of Intel's profitability, is expected to be within the upper half of the previous estimate of 52% of revenue, plus or minus a couple of percentage points.