Intel shares rallied after the firm reported quarterly earnings and revenue that beat analysts' expectations on Tuesday, citing stronger-than-expected demand for corporate PCs.
After the earnings announcement, the company's shares rose more than 4 percent in extended-hours trading. (Click here to get the latest quotes for Intel.)
The company posted second-quarter diluted earnings of 55 cents per share on $13.83 billion in revenue.
Analysts had expected the company to report earnings, excluding items, of 52 cents a share on $13.69 billion in revenue, according to a consensus estimate from Thomson Reuters.
The California-based chipmaker said its gross margins for the second quarter widened to 64.5 percent versus 59.6 percent in the first quarter, while its PC client group revenue grew to $8.7 billion, up 9 percent sequentially and up 6 percent year-over-year.
"We've articulated a long-term margin range of 55 to 65 percent. We're obviously right at the high end of that. … Our goal is to keep margins in that range and grow the business," Intel CFO Stacy Smith on CNBC's "Closing Bell" Tuesday.
"What you're seeing is our strategy playing out nicely in the first half. We're generating financial growth … You can see some strength in the PC market. I think we're being successful in re-inventing the PC. "