Intel says revenue for Q3 will be within range

Intel Corporation has said that revenue for Q3 will be within the range of $6.3bn to $6.9bn but will be towards the bottom of end of the forecast.

It now expects to achieve revenues of between $6.3bn and $6.7bn for Q3, 2002.

Normally in the 'back to school quarter', Intel's revenues rise by about 10% but this year the increase is likely to be less, owing to deferrals in expenditure, as well as cuts in relevant IT budgets.

This is unlikely to impact the momentum behind the roll-out of Intel's latest Pentium 4 and related technologies with new equipment manufacturers, vendors and channels.

However, investors seemed relatively content with the revised forecast and the Intel share price, as well as technology shares overall, rallied on the news.