The chipmaker said that it anticipates revenue growth in the fiscal year, while it previously expected revenue to remain flat. Intel raised its revenue guidance to $13.7 billion, plus or minus $300 million, in the second quarter, up from its previous guidance of $12.5 billion to $13.5 billion.
Greater demand for business PCs drove the guidance increase, and the news sent Microsoft and peer stocks higher, as they would benefit from increased PC sales.
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The stock was up 2.06% to $41.42 at 10:55 a.m.
Separately, TheStreet Ratings team rates MICROSOFT CORP as a "buy" with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate MICROSOFT CORP (MSFT) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels, increase in stock price during the past year and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."