MarketWatch First Take
CEO Pat Gelsinger sees light at the end of the tunnel
After reporting its worst quarterly loss ever, Intel Corp. said there will be somewhat of a bounce-back in the second half, as the chip inventories at its customers get used up.
On Thursday, the chip giant reported a net loss of $2.76 billion, or 66 cents a share, versus net income of $8.11 billion, or $1.98 a share. Revenue fell 36.19% to $11.71 billion, with PC sales down 38% and the data-center group down 39%.