Page last updated at 14:12 GMT, Friday, 28 August 2009 15:12 UK

Intel stock up on higher forecast

Intel micro processing chip
Intel has seen greater demand over the past six months

US chipmaker Intel shares have jumped 5% after it raised its revenue forecasts for the third quarter.

Intel now expects sales of up to $9.2bn (£5.6bn) in the three months to September, up from its previous forecast of up to $8.9bn made in July.

The company pointed to "stronger-than-expected demand for microprocessors", another indication that the global economy is on the path to recovery.

Intel also said its gross profit margin would be near the top of forecasts.

The company's shares rose 5.1% to $20.46 in early trading in New York.

Sales lower

Even with the revised forecast, the chipmaker's revenues would still be lower than last year.

The company had sales of $10.2bn in the third quarter of 2008.

In July, Intel reported a better-than-expected net profit of $1bn for April to June, excluding a massive European Commission fine of over 1bn euros for anti-competitive practices.

The Commission found that between 2002 and 2007, it had paid manufacturers and a retailer to favour its chips over those of Advanced Micro Devices.

Intel said it would appeal against the verdict.

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