$Intel(INTC)$ Gelsinger also mentioned that Intel successfully reduced client customer inventory levels, aligning with their expectations. Despite ongoing inventory reductions, the Client Computing Group (CCG) is expected to grow towards the higher end of seasonal norms. Fourth-quarter revenue is projected to be between $13.3 billion and $14.3 billion, with a midpoint expectation of $13.8 billion.
Intel anticipates a gross margin of approximately 39.5% and an EPS of $0.12 on a non-GAAP basis for the fourth quarter. The company also foresees additional restructuring charges as it continues to execute its cost-saving strategies.
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