Intel Boss Says Chip Sales to Rise 15%
Intel's
(INTC) - Get Report
CEO expects chip industry sales growth of 15% this year, with the company's sales in line with the average, according to a report in a Japanese newspaper.
The company last month forecast sales of $7.9 billion to $8.5 billion for the first quarter, compared with analysts' consensus estimate of $8.29 billion, and $7.16 billion in the year-ago period.
In January, Intel reported record fourth-quarter revenue of $8.74 billion.
Intel CEO Craig Barrett made the industry forecast in an interview with the
Nihon Keizai Shimbun
Tuesday during a trip to Tokyo.
Based on Intel's previous guidance, Barrett's forecast falls in the middle range of the company's revenue estimates for the current quarter.
The company will update its official quarterly forecast in early March.
Intel shares were down 10 cents, or 0.3%, to $28.90, in premarket trading.