Intel Confirms Enough Supply To Meet Revenue Outlook, To Invest $1 Bln Fab Sites

(RTTNews) - Intel Corp's (INTC) interim CEO Bob Swan said the semiconductor giant has enough supply to meet its full-year revenue outlook.

"We continue to believe we will have at least the supply to meet the full-year revenue outlook we announced in July, which was $4.5 billion higher than our January expectations," he said in a statement.

On July 26, Intel said it expects 2018 full year adjusted sales of $69.5 billion.

Swan said Intel's data-centric businesses grew 25 percent through June, and cloud revenue grew a "whopping" 43 percent in the first six months.

Second-quarter PC shipments grew globally for the first time in six years, according to Gartner.

Swan said the company now expect modest growth in the PC total addressable market (TAM) this year for the first time since 2011, driven by strong demand for gaming as well as commercial systems.

Swan said the company is "making progress" in its transition to the 10-nanometer manufacturing process and expects "volume production" in 2019.

Intel also intends to invest a record $15 billion in capital expenditures in 2018, up about $1 billion from the beginning of the year. The company will also invest $1 billion into 14nm manufacturing sites in Oregon, Arizona, Ireland and Israel.