Intel Corp (INTC.O) raised its quarterly revenue forecast for the first time in more than two years as suppliers of parts used in personal computers replenish their inventory amid improving PC demand.
Shares of the world's largest chipmaker rose as much as 4.1 percent to a more than 15-year high of $38.05 on Friday.
Intel, which helped found the personal computer industry, has been struggling as tech users shift away from PCs to mobile phones for their computing needs.
Sales in the company's PC business declined 3 percent to $7.3 billion in the latest quarter. The unit includes sales of chips for mobile phones and tablets.
However, there have been signs PC demand may be recovering.
HP Inc (HPQ.N), which houses the hardware business of the former Hewlett-Packard Co, said last month that revenue in its computer business rose 7.5 percent in the third quarter from the second as sales of notebooks improved.
FBN Securities analyst Shebly Seyrafi said commentary from Intel and HP suggested that PCs were "not as dead as people were thinking."
Source: http://finance.yahoo.com/news/intel-raises-third-quarter-revenue-131703012.htmlthey