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.
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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.