Intel Corp yesterday narrowed its financial forecasts for the first quarter around the mid-point of earlier guidance, as it once again predicted a gradual revival in corporate IT spending.
For the last two quarters the vendor has narrowed its forecasts towards the high end of its original range.
Yesterday, Intel said Revenues in the first quarter will be $8bn to $8.2bn, compared to its earlier forecast of $7.9bn to $8.5bn. Gross margin will be 60% plus or minus a point, compared to earlier forecasts of 60% plus or minus a couple of points.
CFO Andy Bryant said the company’s Intel Architecture Group’s performance was consistent with the lower end of seasonal patterns.
Bryant described the firm’s performance as a very normal Q1 off the new higher levels we saw last year.
He said Intel was sticking to its prediction of a gradual revival in the corporate market, saying that no one would be flicking a switch that would set the market alight. There’s been an awakening, not a rush.
This article is based on material originally published by ComputerWire