Intel raises revenue forecast, shares soar
Sunday, 30 August 2009
NEW YORK, Aug 29 (AFP): Intel raised its forecast for third quarter revenue Friday, sending the share price of the world's biggest computer chip maker sharply higher in early trading on Wall Street.
As a result of stronger-than-expected demand for microprocessors and chips, Intel said it now expects revenue of between US$8.80 billion and 9.20 billion.
The Santa Clara, California-based company had previously forecast third quarter revenue of between $8.10 billion and $8.90 billion.
Intel shares jumped 5.14 per cent to $20.47 during the first few minutes of trading in New York.
Intel's revised forecast came a day after US personal computer giant Dell said it expects consumer demand to improve in the third quarter but demand from large commercial customers in the United States and Europe to remain slow
As a result of stronger-than-expected demand for microprocessors and chips, Intel said it now expects revenue of between US$8.80 billion and 9.20 billion.
The Santa Clara, California-based company had previously forecast third quarter revenue of between $8.10 billion and $8.90 billion.
Intel shares jumped 5.14 per cent to $20.47 during the first few minutes of trading in New York.
Intel's revised forecast came a day after US personal computer giant Dell said it expects consumer demand to improve in the third quarter but demand from large commercial customers in the United States and Europe to remain slow