Intel said Thursday that first-quarter sales fell almost 7% to $18.35 billion, missing Wall Street expectations. Intel generated net income of $8.1 billion. Consumer demand for lower-end PCs was particularly slow, Mr. Gelsinger said, even though corporate demand for computers remained strong. Inflationary pressures have also affected PC demand, leading computer-makers to reduce their inventories, Chief Financial Officer David Zinsner said in a call with analysts. The division that handles chips for PCs saw sales falling 13% to $9.3 billion. Mr. Gelsinger said the global chip shortage he had previously forecast would stretch into 2023 is now likely to last even longer as chip-makers struggle to buy enough manufacturing equipment and to boost production to meet demand. “We believe the shortage will last into 2024 now,” he said. “In part, that’s a supply statement because we have seen that equipment shortages are really impinging the ability of the industry […]