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Intel Raises Outlook

by John Paczkowski
Posted on August 28, 2009 at 6:39 AM PT

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intcIntel is a bellwether for the tech sector; as goes Intel, so goes the industry. So if the company raises its third-quarter revenue forecast because of stronger-than-expected demand for its microprocessors and chipsets, as it did today, then the industry may truly be stabilizing.

For the quarter, Intel (INTC) had been expecting revenue in the range of $8.1 billion to $8.9 billion. Now the company expects revenue to range between $8.8 billion to $9.2 billion. Analysts polled by Thomson Reuters had been forecasting $8.55 billion. Welcome news for tech’s long-suffering investors, which spiked the company’s shares more than four percent to $20.25 in early-morning trading.

Intel is next scheduled to report financials on Oct. 13.

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About John

John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper. Read more »

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