Intel Narrows Forecast for Quarterly Revenue

Intel Corp. said second-quarter sales would be $6.6 billion to $6.8 billion, missing its highest forecast because demand for computer-related gear hasn’t picked up.

Intel shrank its sales forecast from the $6.4 billion to $7 billion it gave last month.

Demand for chips used in communications devices such as network routers remains “weak,” and sales of processors for PCs and server computers are at the high end of what’s normal for the quarter, Chief Financial Officer Andy Bryant said.

The shares of Santa Clara, Calif.-based Intel rose 46 cents to $21.84 on Nasdaq. In after-hours trading, shares rose to $22.34.