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The chips are up for Intel

Intel, the world's largest chipmaker yesterday announced record breaking quarterly sales figures, giving a strong boost to optimism throughout the industry.

Revenue growth was predominently driven by sales of chips used in servers and portable computers. Booming economies in the East especially in China and India have also contributed greatly to the £1.12billion profit accrued by the chip giant in the 3 months preceeding Christmas day.

Stephen Leeb of Leeb Capital says a report like this is exactly what the tech sector needs. "It is a terrific report...Intel are clearly the bellwether"

The markets have lapped up Intel's positive performance, with shares rising by 3% in the company which supplies chips for 80% of the world's PC's.

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