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Intel Expects To Meet Guidance

Semiconductor supplier Intel said it expects fourth quarter sales of $10.4 billion to $10.6 billion, compared to its previous guidance of $10.2 billion to $10.8 billion.
MANHASSET, N.Y. — Semiconductor supplier Intel Corp. said Thursday (Dec. 8) it expects fourth quarter sales of $10.4 to $10.6 billion, compared to its previous guidance of $10.2 billion to $10.8 billion.

Intel (Santa Clara, Calif.) also expects to meets its previous guidance for fourth-quarter gross margin of 63 percent. However, capital spending is expected to be below the midpoint of the previous expectation of $5.9 billion, plus or minus $200 million. All other expectations are unchanged.

Though meeting its own guidance, Intel’s mid-quarter forecast fell short of expectations of Piper Jaffray analyst Les Santiago, who earlier this week projected the company to post sales of $10.5 to $10.9 billion. Santiago said in a report that Intel’s chipset shortages would have lower impact than originally expected.

Earlier today, National Semiconductor Corp. said it beat analyst's estimates for the quarter ended Nov. 27 but expects flat growth for the current quarter. On Wednesday, Texas Instruments Inc. and Xilinx Inc. raised their forecasts for the quarter ending December.