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Intel lifts financial targets

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Intel lifts financial targets

Intel Corp., the world’s largest chipmaker, lifted its second-quarter financial targets late Thursday due to strong demand for its chips used in laptop computers.

In its midquarter update, Intel said sales would be between $9.1 billion and $9.3 billion, compared with its prior forecast of $8.6 billion to $9.2 billion.

The Santa Clara, Calif.-based chipmaker (INTC: news, chart, profile) said its gross margin, an important measure of profitability for chip firms, would be 57 percent of sales, higher than the 56% it had previously estimated.

Read the complete story. (CBS Marketwatch)