With the defeat of Proposition 211 in California on Tuesday, Intel Corp now feels free to talk about its fourth quarter, which is approaching its mid-point. Intel was the first Californian company to strip forward-looking statements from its results announcement for fear of a gang of lawyers jumping down its throat (CI No 3,015). The Santa Clara, California-based chip giant expects revenues this quarter to be significantly higher than the $5.14bn it did in the third quarter. The quarter is of course boosted each year by Christmas personal computer sales. It expects gross margins to be more than the 57% reported last time as well, despite sales and marketing expenses increasing by between 17% and 20%. Intel’s tax rate will be 35%.
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