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

To: Proud_Infidel who wrote (7055)	9/4/2003 4:54:12 PM
From: Proud_Infidel	Read Replies (1) \| Respond to of 25522

Intel Repeats Optimistic 3rd Q Forecast Thursday September 4, 4:49 pm ET By Matthew Fordahl, AP Technology Writer Intel Repeats Optimistic Q3 Forecast, Citing Strong Microprocessor Sales SAN JOSE, Calif. (AP) -- Citing strong microprocessor sales, chip-maker Intel Corp. narrowed the range of its third-quarter sales forecast toward the upper end of its earlier estimates. The semiconductor giant said Thursday it now expects revenue to be between $7.6 billion and $7.8 billion, compared with its Aug. 22 forecast of between $7.3 billion and $7.8 billion. Originally, Intel had forecast third-quarter revenues of between $6.9 billion and $7.5 billion. Analysts on average expect Intel to earn 22 cents per share on sales of $7.58 billion, according to a survey by Thomson First Call. On Thursday, the Santa Clara-based company cited strong demand in its Intel Architecture business, which produces Pentium, Celeron and Xeon microprocessors for personal computers and servers. Emerging markets were particularly strong, Intel said. Unlike previous midquarter updates, Intel did not schedule a conference call to discuss its forecast. A call was held Aug. 22 after the company raised its forecasts for the quarter ending Sept. 30. The full earnings announcement is scheduled for Oct. 14. Intel officials have characterized the processor uptick as stronger-than-normal seasonal demand, not the start of another high-tech boom. In last month's conference call, chief financial officer Andy Bryant said it's too early to declare a full recovery. Intel continued to report soft sales for its communications chips, which includes flash memory used in digital cameras, cell phones and other gadgets. The company raised its flash memory prices at the beginning of the year and lost customers as a result. Last year, Intel earned $686 million in the third quarter, or 10 cents a share, on sales of $6.5 billion. Shares of Intel closed 38 cents higher, to $28.60, in Thursday trading on the Nasdaq Stock Market. In the extended session, they gained 58 cents. Intel: intel.com