Tech stocks: Strong quarter for Intel

Intel Corp., symbol INTC on Nasdaq, is the world’s largest computer-chip maker. About 80% of all computers use its chips. In the three months ended July 2, 2011, the tech stock’s revenue of $13.0 billion. That’s up 21.1% from $10.8 billion a year earlier. The company’s recent acquisitions of McAfee Inc. and Germany’s Infeon Wireless Solutions (now Intel Mobile Communications) contributed $1.0 billion to Intel’s revenue, or 7.7% of the total. The tech stock’s earnings rose 10.0% in the quarter, to $3.2 billion from $2.9 billion. Earnings per share rose 15.7%, to $0.59 from $0.51, on fewer shares outstanding. These figures exclude costs related to integrate acquisitions and other one-time items. Intel saw strong demand in all product lines, and all markets around the world. Revenue at the tech stock’s PC Client Group division, which makes chips and motherboards for personal computers, rose 10.9%. The Data Center Group, which makes chips and other products for servers and workstations, saw its revenue rise 15.2%. Revenue from other products, including components for wireless phones and other mobile devices, jumped 84.0%. The company spent $2.0 billion (or 15.2 % of revenue) on research in the latest quarter. That’s up 19.2% from $1.7 billion (or 15.5 % of revenue) a year earlier. Intel is just one of the stocks we analyze in our Wall Street Stock Forecaster newsletter. You can get the latest issue, along with 5 in-depth Special Reports, access to our weekly Email/Telephone Hotlines and much more absolutely FREE when you subscribe now. Click here to learn how.

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Jim Bates

Jim is an associate editor at TSI Network. He is the lead reporter and analyst for The Successful Investor and Wall Street Stock Forecaster and a member of the Investment Planning Committee. Jim has held the Chartered Financial Analyst designation since 1992 and spent more than a decade at the Financial Post DataGroup before joining TSI Network. He has a Bachelor of Commerce degree from the University of Toronto.

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