Minister of State for Foreign Affairs Meets with Omani Minister Responsible for Foreign Affairs    Deputy Minister of Hajj and Umrah Receives Head of Chad's Pilgrims Affairs Office    Minister of Economy and Planning: Saudi Arabia's Presidency of G20 Summit Will Attract Attention to Middle East    Dairy and Food Polytechnic Signs Agreement to Empower and Train Saudi Cadres    Saudi Foreign Minister Meets Hong Kong's Secretary for Commerce and Economic Development    GCC Standardization Organization Announces 2020 Training Plan    "Golden Sword TTX Drill" Concluded in Command and Staff College in Riyadh    Control and Anti-Corruption Authority: KSA progresses in the Corruption Perceptions Index (CPI) 2019 to rank 51 internationally and 10 among G20 countries    SAGO Issues Tender to Import 900,000 Tons of Feed Barley    Asian Shares Fall    Saudi Press: Saudi Arabia to Host the First Global Cybersecurity Forum    Completion of arrival of teams and pilots participating in General Aviation Forum which starts off tomorrow in Riyadh    Saudi Arabia's Olympic Football Team Qualifies for Tokyo 2020    KSA Olympics Football Team Tops Second Group in AFC U-23 Championship    Saudi National Futsal Team Arrives in Spain    Rashford double helps Man United to 4-0 rout of Norwich    Red Sea International Film Festival Opens Accreditation    Saudi Arabia Creates the Future of Art with Artathon Competition that Merges Artistic Creativity with Artificial Intelligence    Red Sea International Film Festival Shows Rare Films of Late Saudi photographer Safouh Nomani    Saudi CDC Signs Agreement with Swedish Public Health Agency    Custodian of the Two Holy Mosques Addresses Citizens and Muslims on Eid Al-Fitr    Custodian of Two Holy Mosques addresses Citizens and Muslims on the Advent of Holy Month of Ramadan    Ministry of Hajj and Umrah Launches Awareness Message on Sacrifice Day    Custodian of Two Holy Mosques addresses the Saudi people and Islamic nation on the blessed Eid Al-Fitr    Newcastle Beat West Ham 3-0 for their first Win of the Season    Mourinho insists Ibrahimovic must be good enough for Manchester United    Reforms have saved the economy from possible recession, say analysts    The King and Crown Prince congratulates Moldova's President    More than 1,5 million pilgrims arrive in Saudi Arabia, so far    MWL allocates SR 7 million for Eid sacrifice project in 47 countries    Saudi Campaign provides educational and training services for Syrians in Al-Za'tari camp    Saudi student goes missing in Kentucky, US    Harvey lashes Texas US coast with high wind, torrential rain    North Korea tests short-range missiles as South Korea, US conduct drills    Samsung leader Jay Y. Lee given five-year jail sentence for bribery    Known days    "MODON" Signs MoU with Chinese Goldwind Company for wind-turbines manufacturing in the Kingdom    Flyadeal, Saudi Arabia's new low-cost airline, scheduled to launch on September 23, reports    Mastercard launches Masterpass in the Kingdom of Saudi Arabia    Honda among 27 Japan players named for World Cup qualifiers    Joker, Harley Quinn movie in works with 'Crazy Stupid Love' filmmakers    Madhuri Dixit to venture into Marathi films as a producer    Consumers warned against using some brands of face powder, hair products    How 'GOT' makers made the frozen lake in 'Beyond the Wall'    Shraddha Kapoor wants people to help the needy    Neymar targets improvement after phenomenal home debut    Politicizing the pilgrimage    Rakhi 2017: "Bond of Love" between a brother and his sister    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Intel raises sales forecast; shares jump 4 percent
Published in Saudi Press Agency on 28 - 08 - 2009

Intel Corp. raised its third-quarter
revenue forecast above Wall Street's expectations today,
citing strong demand for its chips and giving another
signal that business is improving for one of the world's
biggest technology companies, according to AP.
The leading maker of computer microprocessors now expects
sales of $8.8 billion to $9.2 billion. Its last guidance,
which came July 14, was for revenue in the range of $8.1
billion to $8.9 billion.
Analysts polled by Thomson Reuters were expecting $8.55
billion in revenue before Friday.
Santa Clara, California-based Intel also said it expects
the quarter's gross profit margin to be in the upper half
of the range it previously forecast.
Because it gets most of its revenue from selling chips
that are the «brains» of personal computers, Intel is
indicating that PC makers are loading up on new chips
faster than even it expected. While that suggests PC makers
believe demand for the computers they're building will be
strong, it doesn't necessarily mean they're selling briskly
Intel is benefiting from the fact that PC makers had
burned through a lot of their inventory, instead of buying
new chips, as the financial crisis worsened. Now they have
to restock ahead of what they're hoping will be a healthy
back-to-school and holiday season.
Consumer demand for PCs is stabilizing or improving
slightly from deeply depressed levels, as shown in the
latest quarterly results from the world's top two PC
makers, Hewlett-Packard Co. and Dell Inc. But the PC
industry is still ailing: It's on track for its worst year
in nearly a decade, and some analysts say even Intel's
better guidance doesn't mean the industry's in the clear.
Dell Inc., the world's No. 2 PC maker, said Thursday as it
reported quarterly earnings it might not see a significant
turnaround in spending by businesses until next year. By
then, many companies will need to begin replacing older PCs
that they've been hanging on to for longer than usual, and
will have a new version of Windows available.
«Intel's news isn't exactly a surprise,» said Ashok
Kumar, an analyst with Collins Stewart. «All the ducks
were lining up for a strong third quarter. Where the rubber
meets the road is the December quarter.»
Intel shares rose 78 cents to $20.25 in afternoon trading.
The stock has traded between $12.05 and $23.71 over the
past year.

Clic here to read the story from its source.