![]() ![]() ![]() The 61-year-old Gelsinger added that gross margins would go back to the target range by the fourth quarter. Speaking on the second-quarter earnings call, Gelsinger said Intel ( INTC ) has a "critical foundation for process execution" but the weak second quarter and guidance for the rest of the year have caused the company to adjust its plans. Intel ( NASDAQ: INTC) Chief Executive Pat Gelsinger said the chip giant would lower and focus its spending and expenses for the remainder of the year, citing ongoing economic weakness and a 10% decline in the PC market.
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