Banc of America raised its fourth-quarter and fiscal 2007 profit estimates on chip giant Intel ( INTC) by 2 cents.

The firm now believes Intel will earn 27 cents a share in the fourth quarter, up from its old estimate of 25 cents, and $1.27 for the year, up from its prior forecast of $1.25.

BofA said in a research report that its channel checks indicate Intel had fourth-quarter revenue of around $9.6 billion. Citing what should be a strong performance for chips used in notebook PC's and servers, Intel's fourth-quarter gross margin should be about 52%, BofA said.

Shares of Intel were up 9 cents to $20.44 in premarket trading Thursday.

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