Intel Post Record Profits: Technology stocks rise globally

The beginning of the US result season started with the good news of microchip manufacturer Intel reporting record quarterly profits. The results far exceeded Wall Street forecasts, and helped push up technology share prices across the world.

Richard Wray over at is reporting that many people thought Intel results would show slowing demand due to the economic crisis currently affecting Europe. Intel made a profit of $2.9bn in the three months to 26 June, compared with a loss of $398m last year which was affected by a $1.06bn fine by the European commission.

Profit margins came out at 67%, more than the 64% that was forecast by market analysts, and the company expects the same level of results for the third quarter.

The company’s profits were helped by stronger than expected demand from manufacturers of servers and PC’s for its chips. Following the news technology shares across the US and Asia rose, and pushed British chip designer Arm Holdings to the top of the FTSE 100.

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Written by Gary Johnson

Gary has a background in engineering and passion for motorcycles, gadgets, and home cinema. In his early years, his obsession for Hi-Fi technology would see him creating the perfect setup with a good ear for sound quality. While Gary is keen to write about most topics that PR covers, his love for phones finds him reporting a lot of news about applications for iPhone, Android, and other popular operating systems

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