Chip bellwether Intel (INTC) - Get Report was up 3.9% in preopen Island trading after Credit Suisse First Boston and Lehman Brothers reiterated their buy ratings and Merrill Lynch affirmed its accumulate.

On Wednesday, Craig Barrett, Intel's president and CEO, said he expects 2001 sales growth in the "high teens" in percentage terms and forecast a raft of faster processors and new products from the company.