Intel: 1Q Still On Track; Business Remains Seasonal

Intel said

In a prepared statement, updating investors on its first-quarter outlook, the company said it now expects sales to come in between $6.6 billion and $6.9 billion for the first quarter. It had previously set a range of $6.4 billion to $7 billion.

Gross margin percentage for the quarter was on track as well, Intel said, adding that it remained "within the previous expectation and above the midpoint of the range" it predicted several weeks ago.

Company executives were scheduled to discuss their midquarter finances later in a conference call with financial analysts.