Intel Corp shares declined 2.5 percent after executives gave their three-year ou...
FILE PHOTO: A sign outside the Intel corporate campus in Hillsboro, Oregon, U.S., April 25, 2018. REUTERS/Caroline Humer/File Photo
Chief Executive Bob Swan said on Wednesday the company sees both revenue and earnings per share growing in the “single digit” percentage range over the next three years, with flat PC chip sales offset by “double digit” percentage revenue growth in data center chips. Intel was once the dominant maker of processors for personal computers and has sought to expand its data center chip business as PC sales stagnated. The company’s shares dropped to $49.24 after the announcements.
Swan said that Intel plans to deliver even smaller 7nm chips by 2021, an aggressive timeline after taking years to develop its 10-nanometer process.
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