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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
yet.
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.


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