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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (58884)	1/16/2002 1:10:13 AM
From: StanX Long	of 70976

Tuesday, 15 January, 2002, 22:45 GMT Intel buoyed by Christmas sales news.bbc.co.uk The world's biggest semiconductor manufacturer Intel has unveiled sharply lower profits, but has managed to hit its own ambitious Christmas sales forecasts. Profits for the final three months of 2001 fell to $504m, 77% down on the same period last year, while sales fell by 20% on the year to $6.98bn. The sales figures, which are at the top end of analysts' predictions, were boosted by a stronger than expected surge in demand over the Christmas period. But the company said it planned to cut capital investment by nearly a quarter to $5.5bn this year, a move which is expected to spread gloom through the semiconductor industry. Difficult year In October, Intel boosted investor sentiment towards semiconductor stocks by announcing that it was sticking to its $7.3bn capital spending plans for 2001 despite difficult market conditions.

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