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Intel’s Shares Rise the Most in Almost Seven Months

Intel Corp. rose the most in almost seven months after releasing a new line of server chips, stoking optimism that it can capitalize on a rebound in demand for computers. Intel rose 84 cents, or 4 percent, to $22.01 at 4 p.m. New York time in Nasdaq Stock Market trading, the biggest gain since Aug. 28. AMD climbed 48 cents, or 5.4 percent, to $9.40 on the New York Stock Exchange.

Intel, the world’s largest semiconductor maker, got a jump on rival Advanced Micro Devices Inc., which plans to release its Magny-Cours design in 8- and 12-core versions later this month. The companies are counting on customers increasing technology budgets as they recover from the recession. Last year, many customers delayed or reduced spending on sever computers that run their corporate databases and Web sites.

BusinessWeek

Posted by | Tue, Mar 16, 2010 - 04:24 PM