Intel gains amid forecast of 2Q revenue at upper end of guidance
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Intel (NASDAQ:INTC) rose 4% as the company said it expected revenue to be at the upper end of its range at a TD Cowen conference.
Intel (INTC) sees 2Q revenue at the upper half and its likely tracking $12 billion to $12.5 billion, CFO David Zinsner said at TD Cowen Technology, Media and Telecom conference.
"We think, as we kinda look at how things are playing out for the quarter, that we will end up in the upper half of the range that we gave," Zinsner said. "We gave a range of $12 billion plus or minus $500 million and we think we are on track at $12B to $12.5B as we close out the second quarter."
"We are not seeing any like near-term weakness associated with any sort of upside from GPUs," Zinsner added.
Intel (INTC) in late April forecast adj. revenue of $11.5 billion to $12.5 billion. 
Intel's (INTC) gain on Wednesday may also be related to some comments Nvidia (NVDA) CEO Jensen Huang made in Taiwan on Tuesday. Huang told reporters that the company recently received some test chips from Intel of their next generation process and the results "look good," according to a Barron's report.
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