Intel to narrow Q4 sales forecast – analyst

To the top end of its previous range, at that

Pacific Crest Securities analyst Michael McConnell expects Intel to say that it anticipates its Q4 sales will come in toward the higher end of the $8.1-8.7 billion range the chip giant set after announcing its Q3 figures last October.

Intel will publish its mid-quarter report tomorrow. It will announce that it now expects sales to fall within a range of $8.5 billion to $8.7 billion, according to report issued by PCS this week. Strong seasonal sales is the driver.

Even sales at the very bottom of that range will amount to a nine per cent increase over the $7.8 billion worth of sales Intel achieved during Q3. McConnell expects sequential revenue growth in the order of ten per cent, on Q4 sales of $8.6 billion. He's also forecasting quarterly earnings of 30 cents a share, and annual revenues of $29.8 billion, up from $26.8 billion last year. ®