Intel Says PC Sales Have Reached a Bottom and Forecasts Moderate Growth

In another sign that the worst of the economic downturn might have passed, Intel said on Tuesday that the personal computer industry had bottomed out in the first quarter of the year.Paul S. Otellini, Intel’s chief executive, said, “The worst is now behind us.”The company, which makes computer chips, reported that net income in the first quarter fell 55 percent from a year ago. It forecast modest growth in the coming months, but industry analysts said that a rebound would be anything but sharp and fast. claims PC market has ‘bottomed out’
Intel claimed today that the downturn in the personal computer sector had bottomed out, even as its shares slid nearly 6 per cent after economic uncertainty prevented it from offering financial forecasts for the rest of 2009.The chip-making giant said that personal computer sales hit a trough in the first quarter but there was still too much market and economic turbulence to allow a precise projection for the second quarter.

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