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Politics : Formerly About Applied Materials

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To: StanX Long who wrote (61709)	3/8/2002 12:31:44 AM
From: StanX Long	Read Replies (1) of 70976

Intel Says 1st-Qtr Sales to Be in Line With Forecast (Update4) By Cesca Antonelli quote.bloomberg.com Santa Clara, California, March 7 (Bloomberg) -- Intel Corp., the world's biggest chipmaker, said first-quarter sales will be in line with forecasts, as personal-computer demand drops after a pickup during the holiday sales season. Revenue will be $6.6 billion to $6.9 billion, compared with the $6.4 billion to $7 billion range Intel gave in January. Chief Financial Officer Andy Bryant said computer-chip demand is following a normal pattern for this time of year, and an economic recovery hasn't started yet. Sales of chips that run wireless devices and networking gear are still weak, Bryant said on a conference call. Intel's revenue inched up in the fourth quarter after a yearlong slump as consumers bought more PCs and its most expensive Pentium 4 chips were in short supply. Some investors were watching today's report for signs of a broader computer-industry recovery. ``The bulls were hoping for more,'' said Scott Vergin, who manages about $4 billion at Intel shareholder Lutheran Brotherhood Inc. ``People thought they might move the range up to the high end. This leaves things right where they were.''

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