Intel Inc Earnings Higher Than Expected (INTC, AMD, MSFT)
January 15, 2010 8:30 AM
Intel Inc (NASDAQ: INTC) looks upbeat in 2010 with the expected surge in corporate spending and consumer spending. This surge is expected to bring other technology stocks like Advanced Micro Devices (NYSE: AMD) and Microsoft Corp (NASDAQ: MSFT) out of recession.
The technology companies can also bank in on China’s growth and increased spending in this sector. In its fourth quarter, Intel’s gross profit margin rose to a record 65%, which was much above the forecast. Intel was also able to increase prices of its microprocessors from third quarter onwards enabling a 21% in revenue in the data center business and a 10% increase in the PC business. Intel booked an income of $2.3 billion or 40 cents a share while the expected EPS was 30 cents. Intel is currently trading at $21.65.
