Intel (INTC) Reports Great Earnings Does This Add Fuel To The Tech Sector?
Intel beats expectations!
Wow, so the company everyone was waiting to hear from today was Intel! The consensus on the street was Intel was going to make .30/share with boasted revenue. After the anticipated wait after hours, they released the EPS of .40/share with a revenue increase of 28%, which sent the stock higher by 2% in the after hours read the P/R here. This is the chart of INTC, it’s obvious it has been doing good in the economy and as sales and revenue increase, this report just proves how well the company is doing.
Tech sector boom
What does this say for the technology sector? Not only has tech been the leading sector for percentage gains and topping charts across the board but it’s also the most watched next to the financial’s. With Intel being the first to show signs of how the sector is doing, does this set the trend for all other tech? Lets look at the XLK SPDR which is the tech ETF.
As you can see nothing but a strong up trend. I see this trickling down to all other tech companies and making this as a sign to buy into it!
I will be on the hunt for some good tech plays to get into, that will follow the success of Intel. :)
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