By Dean Seal

Shares of Intel fell after the company delivered a muted outlook for sales in its current quarter.

The stock was down 10% at $44.52 in after-hours trading. Shares closed the market session off by about 1% from where they started the year.

The chipmaker said after the bell that it expects about $12.7 billion in sales for the first quarter, which is higher year-over-year but below analyst forecasts, according to FactSet.

Chief Executive Pat Gelsinger said the bumpy market for a programmable-chip unit and weaker sales for its autonomous-driving unit Mobileye Global weighed on Intel's guidance.

Write to Dean Seal at dean.seal@wsj.com


(END) Dow Jones Newswires

01-25-24 1836ET