Intel goes from black sheep to the white hope of technology

On Tuesday night, Intel was the toast of Wall Street. With the financial world growing fearful that the economic green shoots were shrivelling, the technology firm gave the markets their favourite fertiliser – a dose of forecast-beating results.Paul Otellini, the chief executive, was in buoyant mood, telling analysts that Intel’s revenue of $8bn (£4.9bn) in the last quarter was “clearly better than we expected”. His prediction that PC sales will enjoy their traditional bounce this autumn when students return to school and university helped to rally shares on both sides of the Atlantic today.”Intel’s second quarter results reflect improving conditions in the PC market segment, with our strongest first to second quarter growth since 1988,” said Otellini.

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