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Intel predicts brighter Q4 than expected

Revenues predicted to rise by ten per cent, Stan says

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Chip giant Intel said that it expected to turn in stronger than expected results for its fourth quarter, giving the semiconductor sector a long-awaited boost. The reason for the upturn, Intel said, was stronger than anticipated demand for PC products across all of its market segments. A statement from Intel said that it expected revenues for the quarter to rise by ten per cent from its Q3 figure of $6.7 billion. Gross margin is also expected to rise by two points from 53 per cent said Intel, but expenses will also rise by ten per cent in Q4. The company is continuing to reduce staff and will meet its target of losing 3,000 jobs by the end of the year. Intel currently employs over 64,000 people worldwide. Capital spending in 1998 will be around the $4.2 billion mark, the company said, while R&D spending for Q4 only will be $650 million. ®

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