Intel Corporation has exceeded the Wall Street forecasts for the third quarter. The reason why is because of strong demand for their chips. This is good news for the economy considering Intel is the biggest chip company in the world. This indicates the economy as a whole is strengthening in the tech sector.
Intel expects sales for the quarter to be roughly $8.8 billion to $9.2 billion. Thomson Reuters analysts expected Intel’s Q3 revenues to be about $8.55 billion. Intel themselves were surprised by their revenues because they expected the economic downtown to drastically affect business.
Dell, the second largest PC manufacturing company also expects to have a solid year. “There are a lot of moving pieces in the PC industry as we prepare for a new operating system from Microsoft,” stated Doug Freedman, an analyst at Broadpoint AmTech in an interview with The New York Times.