Intel shares faced pressure after issuing a disappointing financial forecast attributed to PC market weakness and an explosion at its fabrication plant in Israel. Despite these challenges, the company projected that the server CPU total addressable market will exceed $200 billion over the next five years. For the fourth quarter, Intel guided its revenue to range between $15 billion and $16 billion.
Intel projects the server CPU market will exceed $200B over five years and guided Q4 revenue between $15B and $16B, according to Seeking Alpha.
Read the full storyFourth-quarter guidance came in below analysts’ estimates, with adjusted gross margin expected to fall to 38% after rising to 44.1% in the third quarter.