Intel sees glimmer of hope for tech sector

Intel Corp beat quarterly expectations and declared the worst was over for a battered tech sector, but its shares slid 5 percent after it said economic uncertainty ruled out a clear revenue forecast.

The world's top chipmaker said personal computer sales hit a trough in the first quarter but there was still too much market and economic turbulence to allow a precise projection for the second quarter.

Intel said that for internal purposes, it was planning for revenue to come in flat after the first quarter's $7.1 billion, versus analysts' average estimate of $7 billion. Some, hoping for improvement in coming quarters, wondered if Intel was not being overly cautious.