Intel Corp.'s (INTC) first-quarter profit nearly quadrupled as revenue jumped 44% and sharply higher margins amid strong demand for chips used in laptops and server computers.
Shares gained 3.7%, to $23.60 in after-hours trading, as the world's largest computer-chip maker's results topped Wall Street's expectations and issued a bullish outlook. The stock reached a 1 1/2-year high of $22.80 earlier Tuesday.
Other tech names as Microsoft (MSFT), Altera (ALTR) and Applied Materials (AMAT) also rallied in after hours trading.
"These leadership products combined with growing worldwide demand and continued outstanding execution resulted in Intel's best first quarter ever", said Paul Otellini, Intel president and CEO.
in WSJ.com
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