Management divested the silicon photonics pluggable transceiver business, marking the "10th business exit in 2.5 years," the analyst wrote. KeyBanc Capital Markets : Intel's third-quarter results and fourth-quarter guidance "solidly" exceeded expectations, Vinh said. "Results benefited from improving PC demand as channel inventories are healthy, with strong demand in commercial and gaming," he added. Although the DCAI results were below expectations, they are expected to grow sequentially in the fourth quarter, "as servers continue to grow and Sapphire Rapids continues to ramp," the analyst further stated. INTC Price Action: Shares of Intel had risen by 9.67% to $35.66 at the time of publication Friday.