Intel Forecasts Enliven Wall Street, Stock Prices Soar UpwardsJuly 14th, 2010 - 8:22 pm ICT by GD
By Ranjan Bhaduri
July 14, (THAINDIAN NEWS) Leading chip maker Intel is expecting its revenue to shot up more than what in expected in the current quarter. The hike in margin is made possible by the demand for servers and desktop PCs. The forecast made by the company will result in allaying fears of a technology spending diminish and it has already made its stocks soar by 8 percent. Hence the Wall Street investors can expect a strong opening on Wednesday.
The top chipmaker of the worlds is of the opinion that its margin for the third quarter will be around 67 percent and the revenue earned in this quarter will be close to $12-billion. The market experts predicted a revenue of $10,9-billion earlier. The upbeat forecasts made by Intel also affected the stocks of major technology companies in Asian subcontinent. Taiwan based Acer which is now the 2nd PC vendor of the world reported a 6 percent growth in share price while its rival Lenovo gained 4.8%. Paul Otellini the CEO of Intel said that corporate spending will shot up for revamping the PC infrastructure and this will affect the chip sale positively.
While the forecasts made y Intel has brightened the ambience at Wall Street, the company is planning to start making its next generation chip line which is code named as Sandy Bridge. The reason is that the industry experts have given it rave reviews. The company CEO expressed his happiness over the early response to the new chip line. It will be incorporated in new laptops and desktop PCs he said. The company is also planning to ramp up production units.
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