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Intel to Meet Forecasts

November 02, 2000|Bloomberg News

Intel Corp. said fourth-quarter sales are on track to meet forecasts and its market share in the retail personal computer market in North America is rebounding. Sales in Europe are healthy so far this quarter, and demand remains strong in Asia for server computers that run Web sites and desktop personal computers, said Sean Maloney, Intel's vice president of sales and marketing. Chief Executive Craig Barrett said his goal for revenue growth in the processor group is 10% a year, and he's targeting growth of 50% a year in the networking and communications group. He said his overall revenue-growth goal is in the "high teens." Intel's third-quarter sales didn't meet its original forecasts because of weak demand in Europe, and earlier this year the chip maker saw technical glitches lead to recalls and a canceled product introduction. Intel's shares rose as high as $47 after the report. They had closed off 13 cents at $44.88 on Nasdaq.

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