Intel Will Top Revenue Forecasts As Giant Recovers From Thai Flooding

Intel Apple

[credit provider=”AP”]

Intel CEO Paul Otellini forecast sales for the chip manufacturer would come in near $54 billion in an interview with Fox Business, $140 million higher than analyst forecasts for $53.9 billion.”Any way you look at it, this will be the best year in Intel’s history,” Otellini said. “We’ll probably get $54 billion of revenue.”

The news is a surprise following guidance in December by the Santa Clara, Calif., firm that revenue would be as much as 7% below earlier guidance. Otellini’s comment closes part of that gap — which the company attributed to off line plants because of flooding in Thailand.

Early reports out of Bloomberg that Intel would miss revenue forecasts set the stock down slightly more than 1% on heavy volume, before recovering. Shares are now higher by 0.8%.

Intel reports fourth quarter results on January 19, 2012. Analysts forecast earnings per share of $0.61.