Intel says quarterly revenue will hit top expectations

SAN JOSE, Calif.-Citing higher-than-expected demand for its memory chips, Intel Corp. said its second-quarter revenue will reach the top end of its expectations.

The company expects revenue to be between $8 billion and $8.2 billion. In April, the chip bellwether’s forecast was $7.6 billion to $8.2 billion.

The news shot up the company stock 3.25 percent or 89 cents to $28.30.

Studies and analysts have consistently projected a prosperous chip market.