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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (1069)	6/11/2002 5:58:10 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Intel CFO Expects Business To Remain Seasonal In 2nd Half By: Donna Fuscaldo, Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Intel Corp. (NasdaqNM: INTC - News) new second-quarter revenue target is still in the "historical parameters" of where business has been in the June quarter, said Andy Bryant, chief financial officer. The first half of the year is tracking exactly as expected, with no economic recovery and sales seasonally down, said the financial chief at the Bear Stearns & Co . 13th annual technology conference here. According to Bryant, the second quarter typically calls for revenue to be down slightly from the first quarter, with sales increasing in the third and fourth quarters as Intel benefits from the back-to-school and holiday selling periods. Currently, Intel expects a seasonal second half, said Bryant. He said he will have more information in July, when the company reports second-quarter results. Bryant added that Intel's new gross margin target of 49% is still better than last year's second quarter. Last Thursday, Intel, Santa Clara, Calif. , shocked Wall Street when it said it expects revenue between $6.2 billion and $6.5 billion, lower than its previous targets for revenue of between $6.4 billion and $7 billion. The company also cut its gross margin target to about 49% from 53%, blaming fewer microprocessors sold and a shift in product mix. According to Bryant, Intel will continue to spend on research and development to put pressure on the competition. The financial chief said the mobile segment of the market is growing the fastest. Last week, Intel reiterated its full-year target for research and development spending of $4.1 billion and capital spending of $5.5 billion. The stock fell 18% Friday on the heels of its warning.