- Intel's interim CEO, Bob Swan, says the chipmaker has enough supply to meet its full-year revenue outlook in a letter posted on the company's website Friday.
- On July 26, Intel gave 2018 full year non-GAAP sales guidance of $69.5 billion.
Intel's interim CEO, Bob Swan, says the chipmaker has enough supply to meet its full-year revenue outlook.
"We continue to believe we will have at least the supply to meet the full-year revenue outlook we announced in July, which was $4.5 billion higher than our January expectations," he wrote in a post entitled "Supply Update" on the chipmaker's website Friday.
Intel shares closed up 3.1 percent Friday.
On July 26, Intel gave 2018 full year non-GAAP sales guidance of $69.5 billion.
Swan said the company is "making progress" in its transition to the 10-nanometer manufacturing process and expects "volume production" in 2019.
One nanometer equals one-billionth of a meter. Smaller nanometer chipmaking technologies historically have allowed companies to create faster, more power-efficient chips.
Earlier this month, J.P. Morgan said Intel isn't making enough processor chips to meet demand and that will be a problem for PC sales this holiday quarter. The firm estimated the Intel processor and chipset shortage will hurt fourth-quarter PC shipments by 5 to 7 percent.