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Finance & Economy

Intel: NASDAQ No Chinese Safety Net


Original Intel Inside brand logo (Photo credit: Wikipedia)

Safety Net?

Intel, the world’s largest semiconductor maker, beat predictions for its second-quarter earnings, but forecast third-quarter sales that were lower than analysts had estimated, as an economic slowdown in China erodes demand.

For the second quarter, the company reported per-share earnings of $0.54 on revenue of $13.5 billion and net income of $2.83 billion from $2.95 billion a year earlier. A bit light, as analysts on average had been expecting $13.54 billion and $0.52 a share.

In April, Intel had predicted sales of $13.6 billion, plus or minus $500 million. For the third-quarter outlook, Intel said it sees sales of $14.3 billion, plus or minus $500 million, from $14.2 billion a year earlier.

Analysts had projected higher sales of $14.6 billion. The company also cut its view on the full fiscal year, saying it expects to grow year-on-year in the range of 3% to 5%, down from a “high single digit” expectation given previously.

Intel’s forecast adds to concern that expansion in China is no longer enough to counter an economic slump in Europe and sluggish growth in the U.S. The company, whose chips are in eight out of 10 of the world’s personal computers, had maintained that demand outside the U.S. and Europe would drive sales of PCs as more consumers in developing nations become able to buy their first machines.

from www.amp2012.com July 18

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About jackbassteam

Jack A. Bass B.A. LL.B is one of North America's foremost tax strategists working to help clients achieve a low tax base. As an economist and management consultant ( www.jackbassteam.com) he forecast the dramatic rise in the price of gold ( from under $900) and then the slide fro $1800. He forecast the fall in natural gas prices from $12 to below $4.00 and oil from $100 In 2009 he forecast an astounding rise in the stock market even as he warned of the fallout from Obama Economics. "Obama Economics threaten all markets as the influence of runaway printing presses will turn on its creators. Jacks education includes degrees in Economics and Law. He has completed (graduating at the top of his class) the securities course as part of a large American retail broker. web site www.jackbassteam.com http://www.youroffshoremoney.com Apprentice Millionaire Portfolio is available from amazon.com as is The Gold Investors Handbook .

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