Intel interim CEO says chipmaker has supply to meet its full-year revenue outlook

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Attendees view the Acer Switch 7 laptop computer powered by the Intel Corp. i7 processor at the company’s booth during the 2018 Consumer Electronics Show (CES) in Las Vegas.

Intel’s interim CEO Bob Swan says the chipmaker has enough supply to meet its full-year revenue outlook.

“We continue to believe we will have at least the supply to meet the full-year revenue outlook we announced in July, which was $4.5 billion higher than our January expectations,” he wrote in a post entitled “Supply Update” on the chipmaker’s website Friday.

Intel shares rose 2.5 percent Friday after the news.

On July 26, Intel gave 2018 full year non-GAAP sales guidance of $69.5 billion.

Swan said the company is “making progress” in its transition to the 10-nanometer manufacturing process and expects “volume production” in 2019.

One nanometer equals one-billionth of a meter. Smaller nanometer chipmaking technologies historically have allowed companies to create faster, more power-efficient chips.

Earlier this month, J.P. Morgan said Intel isn’t making enough processor chips to meet demand and that will be a problem for PC sales this holiday quarter. The firm estimated the Intel processor and chipset shortage will hurt fourth-quarter PC shipments by 5 to 7 percent.