Intel Chief Executive Pat Gelsinger said the chip shortage will last longer than expected as the semiconductor giant reported a decrease in quarterly sales amid a slowdown in PC purchasing.
The Santa Clara, Calif.-based company profited handsomely from the shift to remote work and learning, which drove a shopping frenzy for desktops and laptops, many using Intel’s chips. PC shipments fell by about 5% in the first quarter, according to estimates from International Data Corp., suggesting that a two-year wave of demand may have crested.
To Read the Full Story
