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07/22/2021, Intel Corp., the world’s largest semiconductor maker, issued a depressing third-quarter sales forecast,

July 22, 2021

Intel Corp., the world's largest semiconductor maker, issued a depressing third-quarter sales forecast, indicating that its data-center chip business continues to lose market share in the face of increased competition.

Intel said in a statement Thursday that sales in the current quarter will be around $18.2 billion. This compares to an average analyst forecast of $18.3 billion. According to the company, adjusted gross margin, a measure of profitability, will be around 55%, and per-share profit will be $1.10. Following the announcement, the company's shares fell about 2.8 percent in extended trading.