Topic: Growth Stocks

Wall Street Stock Forecaster Hotline – Friday, July 18, 2014

Article Excerpt

INTEL CORP., $33.70, Nasdaq symbol INTC, rose 8% this week after announcing better than expected first quarter earnings and a new share buyback plan. In the three months ended June 28, 2014, Intel’s earnings jumped 39.8%, to $2.8 billion from $2.0 billion a year earlier. The company spent $2.1 billion on share buybacks during the quarter. As a result, earnings per share rose at a faster pace of 41.0%, to $0.55 from $0.39. That beat the consensus estimate of $0.52. Overall revenue rose 8.0%, to $13.8 billion from $12.8 billion, beating the consensus forecast of $13.7 billion. Revenue from making chips for personal computers (63% of the total) rose 6.2%, mainly because businesses are buying new machines after Microsoft stopped supporting its older Windows XP operating system. Sales of chips for server computers (25%) gained 19.2%. Other products, such as software and chips for mobile devices, account for the remaining 12% of Intel’s revenue. Intel spent $2.9 billion (or 20.7% of its revenue) on…