Despite recent setbacks around the development of new chips, Intel also showed better than expected results for the fourth quarter Thursday evening.
The chipmaker who announced last week to replace his top man recorded a $20 billion turnover, thanks to increased demand for laptops, PCs and server equipment now many people work from home.
As Intel exceeded analyst estimates by more than 10%, the afterstock market share increased by 6% when the results were announced after closing the trading floor.
In particular, to the chips for PCs was significantly more earned than was expected. Intel saw its PC chip sales increase by a third in a market that grew by more than a quarter.
For the current quarter, Intel expects revenues of $17.5 billion, which was also clearly better than what market scientists had estimated.
The grapes will be sour for the current top man Bob Swan. Last week, following pressure from activist hedge fund Third Point, Intel announced that it will make way to Pat Gelsinger, from the technology company VMware, on February 15.
Swan is reproduced that he has lost contracts for the supply of chips to Apple and Intel has fallen behind competitors Samsung and TSMC in recent years when it comes to producing faster, more sophisticated chips.