Intel Quarter a Bellwether for Tech Stocks
Intel (NASDAQ:INTC) may just post better than expected revenues tomorrow when the processor maker announces its earnings results for Q1. Whatever the results, they will be closely watched as a bellwether for other technology companies and for the state of technology spending and demand.That's because Intel's Q1 earnings will be the first in a new round of earnings reports from technology companies. Plus, Intel's processors are one of the building blocks used by many manufacturers make PCs and servers and storage devices. That means Intel feels the movement of the economy before other technology manufacturers do. And a positive report could mean that more good news is on the way. The performance of Intel stock over the last month certainly indicates that investors may be looking for some good news from Intel. Intel shares were trading at around $16 on April 13, just head of market close compared to $14.25 on March 16, a month earlier.
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