Intel, global chip shares jump on talk of strong Q1
San Francisco: Shares of Intel Corp jumped 4% to their highest in more than a year on expectations that robust Asian sales and a rebound in corporate spending will help the chipmaker beat current-quarter earnings estimates. Optimism over a strong outlook helped lift technology shares across Asia, with Samsung Electronics, the world’s no.1 memory chip maker, up 2.1% and 2nd-ranked Hynix Semiconductor gaining 1.7%. Some worried that margins may have peaked in the current cycle, but analysts say strengthening demand may help propel Intel’s earnings power further. Broadpoint AmTech analyst Doug Freedman said that if Intel’s revenues and margins are better than expected, the bottom line of estimates could be pushed up by as much as 10%. That, along with strong forecasts from top-tier manufacturers and strong sales of Intel chips released in January were pushing shares higher even though gross margins may have peaked.
Intel meets first quarter's expectations despite PC slowdown – Firstpost
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