Intel beats estimates, but current quarter not exciting investors

Intel (INTC), the world's largest chipmaker, beat consensus analyst estimates for both profit and sales in the first quarter. The company said sales for the current quarter will match what analysts are expecting.

"The most important event for the stock market tomorrow is what Intel reports tonight," fund manager Jim Awad told Fox Business News earlier today, before the announcement.

Shares are trading lower in after-hours trading as investors may be disappointed they are not hearing more from Intel's management about sales during the current quarter.