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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Process Boy who wrote (91571)	11/2/1999 5:44:00 AM
From: puborectalis	Read Replies (1) \| Respond to of 186894

Tuesday November 2, 4:45 am Eastern Time Intel sees network/communication sales snowballing TOKYO, Nov 2 (Reuters) - Intel Corp (NasdaqNM:INTC - news) CEO Craig Barrett said on Tuesday that he expects revenues from Intel's networking and communications business to grow more than 30 to 40 percent a year in the next few years. Asked at a news conference in Tokyo about prospects for its Internet-related sales in five years, Barrett said: ''Today our networking and communications business is already an approximately $2 billion a year business. I expect that to continue to grow faster than the industry... (now) growing 30 to 40 percent a year.'' Revenues from the company's Internet-related services will grow into a billion dollar business in a few years, Barrett said. Intel, the world' biggest semiconductor maker, is rapidly diversifying into Internet-related business because the Internet will be the driving force in the information technology industry over the next decade, just as personal computers were in the 1990s, Barrett said. ''Our growth in the future will be a combination of our older core business (the microprocessor business) plus these new Internet building blocks,'' he said.