Silicon Valley giant Intel, whose microchips are an integral part of most computers, reported a 43% jump in net income to $1.86 billion for the third quarter—and forecast another increase in the current quarter. The company is firing on all cylinders, with investors driving up the stock 26% so far this year, the Wall Street Journal reports.
It's all happening for Intel despite competition from rival Advanced Micro Devices. Intel not only beat its own forecasts amid increased demand, but defied analysts who suggested fourth quarter orders would be down. "Investors are likely to be broadly encouraged by the confident guidance" of the company's forecast, said an analyst at Lehman Brothers.