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

To: Amy J who wrote (165680)	6/3/2002 8:40:16 AM
From: Road Walker	Read Replies (1) \| Respond to of 186894

Intel sees usual year-end tech demand rise TAIPEI, June 3 (Reuter) - Intel Corp (NasdaqNM:INTC - News), the world's largest microchip maker, said on Monday it saw no signs of recovery in global tech demand beyond normal seasonal patterns, and the usual year-end demand bump looked to be in place. "I don't think there is any doubt that that kind of seasonality is in place," said Mike Splinter, Intel's executive vice president and director of sales and marketing. The normal pickup in sales in the second half of the year, powered by back-to-school and Christmas holiday sales in the United States appeared to be on the horizon, he told reporters at Taiwan's Computex 2002, the world's third-largest computer trade show. Splinter did not give details, and declined to comment on the impact of major price cuts last week on the current quarter's sales. Intel reduced prices on some of its microprocessors by as much as 53 percent at the end of May. Intel guided analysts to expect the current quarter's sales to fall between $6.4 billion and $7 billion. The company is scheduled to give a mid-quarter update on June 6. Semiconductor makers are slowly recovering from the industry's worst-ever year in 2001, when global chip sales tumbled more than 30 percent to about $140 billion. Consumer demand has sustained a tentative comeback from last year's lows, but the tech industry is still waiting for cost-conscious corporations to increase their information technology (IT) budgets. Splinter said while corporations appeared to be replacing PCs at a normal rate, layoffs and hiring freezes were keeping corporate IT spending low. "The thing that's going to improve IT spending is companies hiring new workers," he said. "What's fallen off because of all the layoffs is computers for new people." Computex 2002 opened on Monday and will close on Friday. (Michael Kramer, Taipei newsroom, +886 2 2508-0815 fax +886 2 2508-0204, michael.kramer@reuters.com))