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Technology Stocks : Intel Corporation (INTC)

INTC 41.41

+2.2%

3:59 PM EST

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To: Tenchusatsu who wrote (170128)	8/27/2002 6:53:45 AM
From: Road Walker	Read Replies (1) of 186894

Barrett getting a jump on the mid-quarter update: Intel Sees Modest Growth Ahead Tuesday August 27, 1:59 am ET PENANG, Malaysia (Reuters) - Intel Corp, the world's No. 1 chipmaker, said on Tuesday it expected modest growth in third-quarter earnings over the preceding quarter. "We see modest growth in the third quarter over the second quarter," Intel chief executive officer Craig Barrett told a news conference. "But we haven't seen much improvement in the computing environment because companies are not investing. When it turns around will be when companies start re-investing, I'm not forecasting when that will happen." Intel last month posted a net income of $446 million for the second quarter, which was at the lower end of market expectations. It also said it would cut 4,000 jobs or nearly five percent of its work force.

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