Technology Bellwether Intel Ups Third Quarter ForecastBy Jessica Davis | Print
In a potential harbinger of an economic recovery in the technology sector, chipmaker Intel has raised its third quarter expectations. The statement from Intel follows other positive statements from executives at PC and server manufacturers Dell and HP.Technology financial performance bellwether Intel (NASDAQ:INTC) raised its outlook for the third quarter, saying it now expects revenue to be $9 billion, plus or minus $200 million -- a significant increase over the previous range of $8.5 billion, plus or minus $400 million.
That could be good news for the technology sector as a whole. Chipmaker Intel and other chipmakers make the basic physical building blocks that underlie all IT solutions.
The upgraded expectations follow recent positive statements from executives at PC and server makers Dell and HP about an expected increase in demand following the release of Microsoft Windows 7 and further chip advances from Intel and its smaller rival AMD.
Intel says the gross margin percentage for Q3 is expected to be in the upper half of the previous range of 53 percent, plus or minus two percentage points. All other expectations remain the same, the company says in a prepared statement.