Intel for the first time in more than two years raised its quarterly revenue forecast as demand for traditional PCs improves.

The chipmaker now expects third-quarter revenue to check in around $15.6 billion, give or take $300 million. That's up from its earlier forecast of $14.9 billion (give or take $500 million) which was roughly what analysts were expecting. Share value in Intel is up 2.64 percent to $37.52 as of writing on the revised guidance.

According to Reuters, the updated estimate - if it pans out - would be the highest-ever quarterly revenue for Intel which is a bit ironic considering the stale state of the PC industry as of late.

It's been a tumultuous time for traditional PC vendors and suppliers for the better part of the past decade as consumers shift their computing habits from desktops and notebooks to smartphones and tablets.

Intel had an early opportunity to supply the processor in the first iPhone but executives declined because the two sides couldn't agree to financial terms. In hindsight, that proved to be a major misstep, one that Intel has tried to rectify for years with little success.

Intel has reportedly rekindled a relationship with Apple although not as a CPU supplier.

PC sales are likely on the rise now that Microsoft is no longer offering its free Windows 10 upgrade. Rather than sticking with an outdated machine running an old operating system, some are no doubt opting to buy a new PC.

Image courtesy Tyrone Siu, Reuters