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Intel Breaks Out Of 2001 Doldrums | |
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| Time: 18:23 EST/23:23 GMT | News Source: CNET | Posted By: Julien Jay | ||
Intel had a happy holiday. According to several analyst reports issued Friday, the heavyweight chipmaker closed 2001 on a high note, thanks to unexpectedly large demand for its chips. Analysts estimated the sales would have Intel reporting fourth-quarter earnings of between $6.96 billion and nearly $7 billion--more than the company had predicted. On Dec. 6, Intel forecast earnings of $6.7 billion to $6.9 billion. Although the company had prepared for the worst, it turns out that "everybody under-forecasted demand," said industry observer Dean McCarron. Chip sales for Intel were up by as much as 10 percent sequentially for the quarter, analysts said. | ||
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