Here comes another tech rally!
PC sales aren’t as crappy as Intel thought they would be: Intel just jacked its Q3 revenue forecast 6% and said margins would be in the upper half of expectations.
Here’s Intel’s release:
As a result of stronger than expected demand for microprocessors and chipsets, Intel Corporation now expects revenue for the third quarter to be $9.0 billion, plus or minus $200 million, as compared to the previous range of $8.5 billion, plus or minus $400 million.
The gross margin percentage for the third quarter is expected to be in the upper half of the previous range of 53 per cent, plus or minus two percentage points. All other expectations are unchanged.
And here’s the AP’s take:
SANTA CLARA, Calif. (AP) — Intel is raising its third-quarter revenue forecast, citing strong demand for its chips.
Intel, the world’s largest maker of computer microprocessors, said Friday it now expects sales of $8.8 billion to $9.2 billion in the current quarter.
Its earlier guidance was for revenue in the range of $8.1 billion to $8.9 billion.
Analysts polled by Thomson Reuters had been expecting $8.55 billion in revenue.
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