Intel (INTC) shares move lower in after-hours trading after disappointing on first-quarter 2024 guidance. The tech developer beat fourth-quarter earnings estimates, posting revenue of $15.4 billion and adjusted earnings of $0.54 per share. Yahoo Finance Live anchors Julie Hyman and Josh Lipton discuss Intel's figures centered around its AI investments and the PC market. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.

Intel beat it’s revenue and earnings projections for Q4, but posted weak guidance for Q1 2024, resulting in a 12% share price drop after hours.

Intel was able to increase their client computing (PCs and laptops) revenue and profit, but they suffered losses in data center and AI (DCAI) and network and edge computing.

The weak guidance for Q1 reflects that corporate customers (and investors) are looking for GPU AI accelerators, and Intel doesn’t currently have any to offer.

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