Intel Share Fall Despite Earlier Prediction that PC Sales Will Rise
Chipmaker giant Intel Corp. has posted slumping sales despite earlier prediction that computer sales is on the rise.
According to the company officials, they are expecting that the revenue will stay flat during the first six months of this year following the 5.1 percent decline of its stock on Tuesday.
Intel Corp failed to continue the projected trust to its sales in the second quarter as company sales dropped 5.1 percent on Tuesday despite earlier prediction that sales of computers chips will be back to its normal seasonal pattern.
Intel Corp. CEO Paul Otellini believe that computer chips sales will flat-out over a period of six months or two quarters of 2009, adding that industry trend appears to be turning around and will return to normal.
However, investors were pessimistic over Intel’s analysis as the chipmaker projected a $7.01 billion high in technology sales for April to June this year. Experts were surprised by Intel’s analysis for the first two quarters, considering the rough environment during this holiday period, not to mention the current economic slump that the US and the rest of the world is facing.
During the first quarter, the chip maker giant posted $647 million (11 centavo/share) in sales, which is relatively higher than the 3-cent per share projected by analysts.
On Tuesday, the company’s stocks dropped 5.1 percent or 81 cents per share to $15.20 during the after-hours of stock trading. Some of the heavy investors seem not to be bothered by Intel’s consistent stand not give specific or detailed forecast of its revenue, saying that it's still too difficult to accurately predict results at this time.
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