Intel stands by expectations

NEWS Investors have been reassured by news that Intel's third quarter revenues will fall within the expected range. Intel expects its revenue to hit around the midpoint of its predicted $6.2bn to $6.8bn range. Much of Intel's business is reliant upon the slowing PC sector, but a refusal to issue a profits warning and downgrade expectations has been welcomed by a technology sector braced for the worst. The chip giant is hoping the launch of Microsoft XP will reinvigorate the flagging PC sector later this year.