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Intel tightens guidance
#1 chip company said 3Q sales will be between $7.6 billion and $7.8 billion. Stock up after hours.
September 4, 2003: 4:25 PM EDT

NEW YORK (CNN/Money) - Intel moved up the low end of its sales guidance for the third quarter Thursday, saying that it now expects revenue to be between $7.6 billion and $7.8 billion.

The world's largest semiconductor manufacturer typically gives so-called mid-quarter updates at the beginning of the last month of the quarter. But Intel raised its guidance for sales and gross margins two weeks ago, to a range of $7.3 billion to $7.8 billion, so it was not expected to change its outlook substantially on Thursday.

Intel left its gross margin target unchanged, saying that margins should hit 56 percent. Analysts expect Intel to report sales of $7.6 billion and earnings of 22 cents per share.

Intel reiterated in a press release that it was seeing improving demand for microprocessors used in desktops and notebook computers. But last week Intel CEO Craig Barrett warned Wall Street that the pickup in sales could be temporary and that it was too soon to tell whether this was a real recovery.

Shares of Intel (INTC: Research, Estimates) gained 1.5 percent to $28.63 in regular trading Thursday and climbed another 1.6 percent in after-hours trading to $29.10, according to Island ECN.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.