Monday, 10 September 2007
The world's biggest chipmaker Intel says stronger-than-expected demand means it will beat its earlier forecasts for three month revenues.
Intel shares rose 2.5% to $26.11 in early trading following the news but eventually closed down 0.5% at $25.35.
Seen as a gauge for the whole of the technology sector, the news boosted trading in other shares on the Nasdaq.
It expects revenue for the three months to the end of September to be between $9.4bn (£4.6bn) and $9.8bn (£4.8bn).
This represents an increase from an earlier forecast of between $9.0bn and $9.6bn.
Intel also says that its gross margin will be in the upper half of the previous range of "52% plus or minus a couple of points".
New chips
It has been a good day for chipmakers with Intel's rival Advanced Micro Devices (AMD) unveiling its much-hyped new server chip.
It is AMD's first "quad-core" chip, which features four processors on a single chip.
The product launch is a key part of AMD's attempts to compete with Intel, which has a market value 21 times bigger than AMD.
AMD shares rose 2% in early trading.
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