2000 People Are Now Intel Outside

Intel, the giant semiconductor manufacturer, is the darling of Wall Street today. It reported a 43% increase in 3rd quarter profits over last year's figures.  It has also announced their intention to shed 2000 jobs, and investors like the idea of making more money with fewer people; shares of Intel surged 5% in before-stock-market-opening trading.

Analyst Doug Freedman of American Technology Research said the chipmaker offered "very strong" fourth-quarter earnings projections.
"This should push next year's numbers higher, as the gross margin starting point is higher and ripples through the model," he added.
Analyst John Dryden of Charter Equity Research said "PC demand continues to exceed expectations globally ... The mix to mobile is providing an added benefit to Intel."

I'm betting that the Christmas parties at Intel will be much more fun than at AMD this year. And of course the workers laid off shouldn't have any trouble finding jobs -- if they speak Chinese. They're Intel outside now.


Tags:  Intel, now, People, id, AR
Via:  MarketWatch
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