Tuesday, October 13, 2009

Intel "Blasts" Earnings and Forecasts as Expected; October 13, 2009

Well I said this morning that I can't imagine companies not configuring their books to present a rosie picture of their financial statements and post what appears to be great earnings and forecasts and Intel proved that after the bell today. That wasn't important as I knew that would happen most likely, and Intel is a key bellwether for Tech and even the overall economy. What was important was the reaction to the announcement. So far it's extremely positive and bullish as Intel shares soared 5% on the news, and that's after a huge run up into earnings. We'll see if it holds.

The next step is the stability of the financials. We'll see the market's reaction to their earnings in the coming days.

Here's the CNBC Intel article: http://www.cnbc.com/id/33293029#

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