Q2 2010 best quarter in company’s 42-year history - Intel Corporation (NASDAQ:INTC)

INTC shares are currently trading at $21.03 which is 1.41% lower than Wednesday’s closing price of $21.33. INTC’s intraday high stood at $21.48 with a share volume of 83.8 million shares. The company shares have 52 week high of $24.37 and 52 week low of $18.31. Its market capitalization stands at $117.01 billion. The company has 50 day moving average of $20.87 and 200 day moving average of $20.71. The sustenance and resistance levels of Intel Corp are $19.20 and $22.50.

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Intel holds an equity interest in SMART Technologies, Inc. On July 15, 2010 SMART completed an initial public offering of shares approved for listing on the NASDAQ. Intel sold approximately 10 million of its 27.5 million shares in the secondary offering. As a result of this sale, Intel has revised its third-quarter business outlook with respect to “equity investments and interest & other.” It now expects the third quarter impact of equity investments and interest & other to be a gain of approximately $175 million as compared to the previous expectation of approximately zero. All other expectations are unchanged.

On July 13, 2010, Intel reported Q2 2010 revenue of $10.8 billion, up 34% YoY. The company reported operating income of $4.0 billion, net income of $2.9 billion and EPS of 51 cents. Gross margin was 67%, which was 3% higher than the midpoint of the company’s expected range of 62-66%. PC Client Group revenue and Data Center Group revenue were up 2% and 13% sequentially, respectively. Strong demand from corporate customers for Intel’s most advanced microprocessors helped it achieve the best quarter in company’s 42-year history.

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Management expects FY 2010 gross margin to be around 66%. It expects capital spending to be $5.2 billion, plus or minus $200 million. Intel’s prior expectation was $4.8 billion, plus or minus $100 million.

Intel is a semiconductor chip maker, developing advanced integrated digital technology products, primarily integrated circuits, for industries, such as computing and communications. The company designs and manufactures computing & communications components such as microprocessors, chipsets, motherboards, and wireless & wired connectivity products, as well as platforms that incorporate these components. It operates in nine operating segments: PC Client Group, Data Center Group, Embedded and Communications Group, Digital Home Group, Ultra-Mobility Group, NAND Solutions Group, Wind River Software Group, Software and Services Group and Digital Health Group networks.

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