Intel Says PC Sales Slump Hits Bottom
If chips and processor sales are an indicator of the downstream health of the IT marketplace, Intel chief Paul Otellini is signaling that PC and server sales may have stabilized. He told analysts that Intel sales are "a little better than we expected."
Intel stock value jumped 3 percent in after hours trading following Otellini's remarks that personal computer sales had "bottom out" and beginning to rebound. Additionally, he said semiconductor sales are beginning to improve.
Intel isn't releasing guidance on its second-quarter financial performance but is indicating that the second three months of the year will basically mirror the first quarter that produced $7.1 billion in revenue. The first quarter was down 26 percent from the same period in 2008.