INTEL last night missed analysts’ expectations as the chipmaker said it expects growth to be flat in 2014 as the PC market stabilises at around 300m units annually.
The company reported fourth quarter revenue of $13.8bn (£8.43bn) that was flat compared to the same period of 2012, but above analysts expected $13.72bn.
Intel said the results show the decline of PCs has bottomed out.
“We aren’t going to move away from PCs, we believe the market has stabilized,” Intel’s Northern Europe managing director Patrick Bliemer told City AM.
“We’re going aggressively after the tablet business, and we’re releasing further technologies next year to go after this.”
Intel’s fourth-quarter earnings came in at $2.6bn, compared with $2.5bn in 2012, as it grapples with the smaller PC industry.
Intel’s share price fell 5 per cent in after hours trading after closing at $26.5 a share.