After the close yesterday, one of the biggest, most important and still beloved tech stocks, Intel (INTC), king of the semiconductors, reported what can only be described as an excellent quarter (3Q Press Release).
The most impressive number in my opinion was revenue, which at $10.1 billion was up almost 16% from the year ago period.
Net income was $1.86 billion, up 43% from the year ago period and gross margins were solid at 52.4%.
Intel’s stock is up about 5% today.
And Intel, being the big and heavily followed stock that it is, member of the Dow, tech bellwether, is helping the market get off to a good start today. Markets are up across the board led by the Nasdaq which is up more than 30 points (more than 1%).
Also helping is a solid quarter from Yahoo (3Q Press Release), also reported after the close yesterday, and an in line Consumer Price Index (CPI) number for September (.3% increase overall, .2% core which excludes gas and food) (BLS September CPI Press Release).