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Intel Corp. on Thursday joined rival Advanced Micro Devices Inc. in upgrading its fourth-quarter forecast, calling for revenue to come in between $6.8 billion and $7 billion for the quarter ending Dec. 28.
AMD earlier in the day also raised its fourth-quarter guidance.
That would be a jump in the $6.5 billion to $6.9 billion range the Santa Clara, Calif., chip maker projected in October when it released its third-quarter earnings. At the time, Intel executives painted a gloomy outlook for the high-tech industry in the near future and doubted that sales would pick up significantly during the holiday season.
Intel said in a prepared statement that its Intel Architecture business was doing better than expected, particularly in Asia. All other business lines are doing as well as expected, the company said.
Earlier Thursday, AMD, of Sunnyvale, Calif., said it expects fourth-quarter sales of $700 million, a 35 percent jump over earlier projections of $508 million.
AMD attributed its bump to stronger-than-expected PC processor demand and continued strong demand in high-density Flash memory products.