Topic: Growth Stocks

The Wall Street Stock Forecaster Hotline – Friday, July 16, 2010

Article Excerpt

INTEL CORP., $21.02, Nasdaq symbol INTC, reported better-than-expected second-quarter earnings and sales this week. That pushed up the stock by 4%. In the three months ended June 26, 2010, the computer-chip maker earned $2.9 billion, or $0.51 a share. That beat the consensus earnings estimate of $0.43 a share. As well, the latest earnings were up 175.2% from $1.05 billion, or $0.18 a share, a year earlier. The year-earlier results exclude a $1.45-billion charge to settle an antitrust fine in Europe. Intel spends around 15% of its sales on research, so it’s more profitable than it appears. Sales rose 34.2%, to $10.8 billion from $8.0 billion. That beat the consensus sales estimate of $10.25 billion. Rising spending on new computers by businesses was the main reason for the strong results. Sales of chips for servers and business computers rose 42% in the quarter. Sales of chips for personal computers rose 31%. The company has also started production at its new, more efficient factories…