Intel Boosts Sales Forecast on Higher Chip Demand
peterkilby at dsl.pipex.com
Fri Aug 22 15:27:36 PDT 2003
UK's semi's going through the roof off the back of this news, and don't forget semi's were the first to report bad news (seems like ages back now), in theory first in first out, is this the end of the "bear market"
Intel Boosts Sales Forecast on Higher Chip Demand (Update1)
Aug. 22 (Bloomberg) -- Intel Corp., the world's biggest computer-chip maker, said sales this quarter will increase as much as 20 percent, exceeding analysts forecasts, because of higher demand for microprocessors.
Revenue in the fiscal third period ending Sept. 27 will rise to $7.3 billion to $7.8 billion from $6.5 billion in the same period a year earlier, Intel said in a statement. The company had forecast $6.9 billion to $7.5 billion and the average Thomson Financial analyst estimate was for $7.24 billion.
Intel also boosted its forecast for gross profit margin, or the percentage of sales left after production costs. Gross margin will widen to 56 percent, plus or minus a couple of percentage points, from 49 percent a year earlier. Intel had forecast 54 percent, plus or minus a couple of points.
Shares of Intel rose $1.62 to $28.01 at 8:47 a.m. New York time in Nasdaq Stock Market trading.
Last Updated: August 22, 2003 08:51 EDT
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