Intel says demand for chips picked up in Q1 (NASDAQ:INTC)

As corporates rush to invest in the infrastructure that will help people in working remotely amid COVID-19 outbreak, Intel (NASDAQ:INTC) saw demand pick up in Q1 for more expensive server chips bolstered by the demand for personal computers, reports Bloomberg.

“It’s somewhat logical and intuitive. Where our lives are disrupted and we need to do more and more things from our home, we need to ensure we have the technology at our disposal so things can go on as normal as possible,” Chief Executive Officer Bob Swan said Thursday in an interview with Bloomberg Television. “What that has meant is demand for more and more devices, including PCs, for parents to continue to conduct their work and for kids to continue their education.”

Analysts and investors are now looking for signals on whether that’s a short-term lift that will subside as the lower economic activity takes a toll on corporate and consumer spending, or whether it is a lasting trend.

The company will report its Q1 results on April 23 and issue guidance for the current period.

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