Chip maker Intel is expected to report lower sales for a second straight quarter, reflecting a slump in personal-computer purchases after two years of strong pandemic-era demand.
Sales in the second quarter are poised to fall 8.6% from the year-earlier period to $18.07 billion, according to analysts surveyed by FactSet. The decline would be the steepest in more than a decade. Wall Street projects Intel will report net profit of $2.19 billion, or a slump of 57% from the year-earlier quarter.
