Intel Exec: Commun Market Won't Improve Until 2002 >INTC
00:42, 2001-06-15
By Donna Fuscaldo Of Dow Jones Newswires
NEW YORK (Dow Jones)--The cell phone and personal computer markets are at a low point, which means the communications industry will experience difficulties for the next six to nine months, said Mark Christensen, vice president and director, communication sectors at Intel Corp. (INTC). Business conditions in the communications sector are still unclear and capital spending budgets will lighten next year, he said Thursday at the Bear Stearns 12th annual technology conference here. However, Christensen believes things will improve in 2002. He said the communications industry is heading toward the vision of having a 'common' network, and the current economic challenges will speed that up. He noted that the amount of traffic over the Internet continues to increase, which means service providers have to build out their networks. Shares of Intel were recently trading down 71 cents, or 2.4%, to $28.35, on volume of 18.2 million, compared with average daily volume of 57.3 million. -By Donna Fuscaldo, Dow Jones Newswires; 201-938-5253 donna.fuscaldo@dowjones.com
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