Dallas, Texas 07/25/2013 (Financialstrend) – With the decline in sales of personal computers continuing for quite longer time, the leading chip maker had reduced the guidance for the financial performance results for PC sales in the fiscal year. Further, Intel Corporation (NASDAQ:INTC) had also recently admitted that the company had been highly slower in responding to changing needs of the consumers in the market who had been shifting from personal computers to ultra rapidly developing mobiles and tablets. While the sales of PC client group makes up for more than 63% of the total sales of the company, this lowering of expectations for the sales in that business division had further led to lowering down of guidance for the gross profit margins from the earlier 60% to 59% for this fiscal year.
However, Intel had proved to be effective to make up for this reduction in guidance for the sales by reducing the capital expenditure of the company from $12 billion to $11 billion. Further, the company had also promised that the second half of fiscal year 2013 would see the launch of Bay Trail Processor, which is primarily aimed at the market for the ultra mobile devices at the entry level. All such news releases related to the effective development in the company’s attempt to grab the mobile markets had sent positive signals to the investors.
Intel Corporation (NASDAQ:INTC) had gained 0.79% on Wednesday to close at $22.93 per share, after opening the day at a price of $22.93 per share. The stock had through the day moved with prices fluctuating between $22.63 and $23.00 per share. The company presently has 52 week low at $19.23 and 52 week high at $26.90. The institutional holding is at 62% and there are 4.98 billion shares outstanding in the market with a market cap of the stock presently at $114.10 billion.