Skip to content
Subscriber Only

Intel CEO Says Chipmaker Sees Low, Single-Digit Sales Growth

  • Main personal-computer business remains stalled, Swan says
  • Company has track record of beating expectations, CEO adds
Bob Swan
Bob Swan Photographer: Samyukta Lakshmi/Bloomberg
Updated on

Intel Corp. Chief Executive Officer Bob Swan gave new long-term forecasts that indicate the chipmaker’s growth will remain stalled. His comments, during his first investor event as CEO, sent shares down 2.5% at the close of trading in New York.

Intel last month said sales will decline in 2019 and it reduced forecasts for profit and revenue in the current quarter. Swan on Wednesday said the chipmaker let investors down when it cut the guidance.