The future for technology looks bright. Intel just announced a better-than-expected quarter sales. While it had to factors in the European Union fine, the company is confident that it will sustain keep its sales on track for the next six months as computer makers are all expected to start making more units.
Technology stocks showed very positive signs with the tech-heavy Nasdaq posting higher numbers. Intel’s forecast helped prop up the stock market. The Dow gained 256 points or 3.1%. The S&P 500 (SPX) index gained 27 points or 3%. Nasdaq gained 63 points or 3.5%. The Dow and Nasdaq both had their best one-day point gains in four months’ time.
Intel’s optimistic forecast means that computer manufacturers are now aiming to build more computers in anticipation of increasing demand. As the world’s largest supplier of microprocessors, how Intel fares is an indication of the computer market. Perhaps in anticipation of the release of Microsoft’s new OS – Windows 7.
Analysts pegged Intel’s strong forecast as one of the drivers for the trading day’s gains.
Technology seems to be one of the only sectors that seems to be doing ok in this current economic climate. I think tech is about to heat up again should be interesting when google and microsoft battle with their new OS.