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Intel defies analysts and maintains Q2 targets

Still on course to make $6.2-6.8 billion revenues

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Intel stuck with its sales forecasts when it released mid-quarter financial guidance yesterday.

The company's shares gained five per cent, reaching $32.61, on the news. During the day, it rose four per cent.

The chip giant dismissed analysts' claims that it would be forced to cut its $6.2-6.8 billion revenue estimate for Q2 2001. Some Intel watchers believe that the company will have a hard time fulfilling its prediction thanks to the downturn in the world semiconductor market.

Intel re-affirmed its previous prediction, claiming its Q2 sales will fall "slightly below the mid-point of the range". CFO Andy Bryant said Intel's CPU business was now stable. However, he added, the comms chip business had yet to end its decline.

There's no doubt about the downturn, but some observers believe that Intel is betting on strong pre-Q3 orders this month to lift what otherwise would have been a below-expectations quarter. With the chip industry itself predicting a slow return to growth through the second half of 2001, Intel really only needs to weather Q2. June will see the company shipping Tualatin, its 0.13 micron die-shrink Pentium III processor which it hopes will sell particularly well into the mobile sector. ®

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Intel's first mid-quarter report to trim sales forecast
Chip sales to fall 14% in 2001
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