Intel results boost chip stocks on optimism PC market slump is ending

FILE PHOTO: A smartphone with a displayed Intel logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Corrects company name to TSMC in paragraph 6)

(Reuters) - Intel shares rose over 4% on Friday, a day after the chipmaker's unexpectedly strong quarterly report heralded a turnaround in fortunes after a long, margin-sapping struggle due to plummeting PC sales and a highly competitive data center market.