Intel Shares Boost by Four Percent

Intel Shares Boost by Four Percent

Chip maker Intel raises its sales forecast, expecting sales returns of $8.8 billion to $9.2 billion.  The firm also anticipates profit growth for this quarter, seeing a huge increase from its previous forecast.
 

Intel attributes the boost to the growing demand of new chips from PC makers. The recession urged computer manufacturers to amplify their inventory, restocking for back-to-school and holiday seasons.

 

Consumer demands have also heightened; however, the PC industry has not yet recovered from the upshots of recession. The industry is expected to bounce back next year as companies replace their old PCs.

 

Intel previously announced its business will have a significant turnaround after a very tough year.  Its shares also rose by 78 cents and stock has traded between $12.05 and $23.71 over the past year.