Intel's still got $11.7bn for capital spending/R&D
Not skimping this year
Posted in Business, 26th April 2001 14:57 GMT
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Chipzilla chief Craig Barrett has said the company plans to trouser-up $7.5 billion in capital spending, and $4.2 billion on R&D this year.
Market watchers had expected the company to cut back on these investment areas because of the sluggish PC market, and the suffering US economy.
Barrett was addressing reporters at a briefing. Reuters reports that at the same event, head of sales Michael Splinter said Intel was seeing a "seasonal uptick" in the second half of the year.
Last week Intel reported profits had slid more than 60 per cent in the first quarter, saying it expected sales to drop 20 per cent in Q2 from last year.
Craig Barrett said: "Our microprocessor business appears to have stabilized and we expect to see normal seasonal patterns going forward from our current business level." ®
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