Multinational semiconductor chip-maker, Intel Corp, second-quarter sales are expected to come in higher than analysts’ forecasts as the company’s improving corporate orders help to control the drop in the personal-computer market.
According to the company’s official website, the company’s income will be $13 billion, plus or minus $500 million, while gross margin of sales will come in at approximately 63%. Sales were forecasted to come in at around $12.96 billion and gross margin of 59.8% according to analysts.
“Once people got into the mode of upgrading, they decided to take a closer look at their current assets,” said Ing, who has the equivalent of a hold rating on Intel’s stock. “It goes well beyond the XP obsolescence.”
Intel shares climbed to $27.85 in extending trading. The stock gained less than 1% to $26.77 at the time of writing in New York, compared with the 3.4% drop in Nasdaq Composite Index.
As the PC market heads towards its third annual decline, the Chief Executive Officer of Intel Brian Krzanich has grown the mobile market by trying to crack the market with Intel for over a decade. Brian is working on starting to grow Intel’s progress outside the PC market, such as phones, tablets and so on.
According to a statement released by the company earlier today, Krzanich has promised to increase Intel’s products to 40 million units this year. Intel shipped around 5 million tablet processors in the first quarter, the statement confirmed.
Intel’s revenue in PC-chip business dropped to $7.94 billion, while operating profit in the same division increased to $2.8 billion.
Visit www.hymarkets.com to find out more about our products and start trading today with only $50 using the latest trading technology today
The post Intel Sales May Come in Higher Than Forecasted appeared first on | HY Markets Official blog.
Article provided by HY Markets Forex Blog