Intel Sees Revenue Falling Below Midpoint on US Huawei Ban
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Intel Corp. expects second-quarter revenue to fall below the midpoint of previously issued projections because of a new US ban on chip exports to Huawei Technologies Co.
Revenue will remain within the previously guided range of $12.5 billion to $13.5 billion, Intel said in a statement Wednesday, “but below the midpoint.” The company said it continues to expect revenue and earnings per share to grow in 2024 from a year earlier.