Intel says the worst may be over
2001-06-08 11:26
San Francisco – Battered semiconductor giant Intel Corporation said on Thursday that revenue for the second quarter of 2001 would just meet expectations, an announcement hailed by analysts who were expecting gloomier news.
The firm, headquarted in Santa Clara, California, said revenue,
gross margins and expenses for the three months ending June 30 will fall "slightly below" the ranges provided in April, and predicted a strong pickup in demand in the second half of the year.
Following a string of corporations reporting steep declines in
revenue, the Intel announcement got mixed reviews from experts.
Some interpreted it as a sign that the company's troubles may be
receding, but others cautioned against optimism.
"We encourage investors to take a long, hard look before buying
Intel on a PC recovery scenario," said Merril Lynch analyst James
Osha.
Sapa-DPA
- SAPA