Intel's earnings results reflect end market growth, says Wedbush's Bryson

Core Insights - Intel's shares have increased by over 6% in after-hours trading, driven by revenue estimates that exceeded expectations in their product segment, although the foundry business did not perform as well [1] - The company is experiencing improved end markets, particularly in AI and server demand, which is positively impacting their Xeon product sales [4][6] - Despite the positive market conditions, Intel's gross margins remain under pressure due to supply chain challenges and the need to optimize their fabrication facilities [2] Financial Performance - The Client Computing Group, which includes PCs, saw a year-over-year revenue increase of 5% [6] - The Data Center and AI Group experienced a slight decline of 1%, indicating potential market share loss to competitors like AMD [7] Market Outlook - The PC market outlook has shifted from flat growth to mid-single-digit growth, reflecting stronger demand [3] - Intel's upcoming Panther Lake product, set to ship next quarter, will provide insights into their 18A foundry process and overall execution against competitors [6] - The company's future success may hinge on the effectiveness of its foundry strategy and its ability to attract more customers while competing with AMD [5]