Intel sales forecast implies rocky second half of 2021 amid supply constraints

Chipmaker Intel Corp said on Thursday it still faces supply chain constraints and gave an annual sales forecast that implied a weak end of the year.

The 2021 forecast of $73.5 billion in adjusted sales was higher than Wall Street expectations, appeared driven by a strong second quarter ended June 26 and a modestly better-than-expected third-quarter, implying a weak fourth quarter. The results sent shares down 2.8% in after-hours trading after the results.