Intel CEO: PC Sales Poised For Resurgence

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At today’s Intel Developer Forum in San Francisco, Intel CEO Paul Otellini appeared more optimistic than many industry analysts in regards to the PC market for 2009.

He believes PC sales could actually grow this year, and tried to argue that if anything, the current downturn showed computers to be indispensable to consumers. Fair enough, computers are pretty cheap relative to their usefulness.

In 2010 he expects “significant growth“. Consensus expects Intel to earn $1.22 of earnings per share after $0.65 this year.

Despite being in a rather cyclical business, most companies should envy Intel’s position during this downturn. The company has about $10 billion net-cash, has remained profitable, and is at the leading edge of its core technology.

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