Leading PC chipmaker Intel (Nasdaq: INTC) is intent on turning itself into an e-commerce powerhouse. On Tuesday at the Wall Street Journal Europe CEO Summit, Intel CEO Craig Barrett said his company expects to earn $15 million in e-commerce revenue. More significant, and perhaps somewhat surprising, was Barrett’s bold statement that in the next two or three years, 90 percent of Intel’s revenue will come from e-commerce.
Wall Street seems could be taking a wait-and-see approach to this news. Shares of Intel closed down 1-1/8 to 55-11/16 on Tuesday, an overall down day for the U.S. financial markets.