Intel Surprises with Quarterly Profit Amidst PC Market Slump: Is a Turnaround Imminent?
Tech giant Intel (INTC.O) has made a surprising turnaround, posting a quarterly profit that exceeded expectations. The slump in the PC market, driven by a surge in demand during the pandemic, had led to a glut of inventories, but the situation is now beginning to stabilize. PC shipments fell only 11.5% in the June quarter, compared to the steep 30%…