Chipmaker Intel says supply remains tight in PC business; shares slip

Chipmaker Intel says supply remains tight in PC business; shares slip

FILE PHOTO: Computer chip maker Intel’s logo is shown on a gaming computer display during the opening day of E3, the annual video games expo revealing the latest in gaming software and hardware in Los Angeles, California, U.S., June 11, 2019. REUTERS/Mike Blake

(Reuters) – Intel Corp (INTC.O) said on Wednesday it has not been able to keep up with the increasing demand for CPUs and said supply remained “extremely tight” in its personal computer business.

“Despite our best efforts, we have not yet resolved this challenge,” the chipmaker said here in a letter, in which the company also apologized to its customers and partners for the shipment delays.

Shares of the chipmaker were down nearly 1% in after-market trading.

Reporting by Ambhini Aishwarya in Bengaluru; Editing by Arun Koyyur

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