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Intel Corporation Message Board

  • lucy_nuff lucy_nuff Nov 2, 2003 9:30 AM Flag


    Intel CEO optimistic on longer term outlook-paper
    Sunday November 2, 9:00 am ET

    ZURICH, Nov 2 (Reuters) - The world's largest semiconductor maker Intel Corp.(NasdaqNM:INTC - News) is optimistic about the future but many uncertainties make a near-term forecast difficult, its top executive said in remarks published on Sunday.

    "In principle I am optimistic about the future. I am speaking about a timespan of five or 10 years," Chief Executive Craig Barrett said in an interview with Swiss newspaper NZZ am Sonntag. "But regarding the next quarter there are many imponderables. SARS could break out again, there could be war again," he said, without elaborating.

    The chipmaker last month posted quarterly net income that more than doubled, on sales which topped Wall Street expectations, reflecting improved demand from Asia and stronger sales of pricier chips for laptops and servers.

    It then forecast higher fourth-quarter revenue in line with bullish Wall Street expectations, but cautioned that while consumer spending was picking up corporations remained conservative on new investment on technology.

    "Demand of businesses in the United States, in our biggest market, shows no signs of recovery," Barrett said in Sunday's interview.

    "U.S. businesses have to show increased willingness to invest in technology for us to be able to speak of a complete recovery.

    "All other market segments have developed well."

    Investor expectations for the chip industry have been steadily advancing in recent months on stronger-than-expected consumer sales and a more upbeat outlook from companies.

    Intel shares, which have almost doubled since the start of the year, closed on Friday at $32.95.

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