During the past 7 days, investors received 3 signs that the outlook for the semiconductor industry is improving. First, last Wednesday, Gartner Inc. raised its forecast for worldwide semiconductor sales. The consulting firm now expects a 17.1% decline, a huge improvement from its previous forecast for a 22.4% drop. Gartner credited lower prices on LCD TVs and computers as well as China’s stimulus package for helping the industry. Second, Intel (INTC) raised its third-quarter guidance. The chipmaker now anticipates third-quarter revenues at about $9 billion, versus its previous forecast of $8.5 billion. Gross margins are expected to be around 53%, with the projection likely being too conservative, rather than too pessimistic. Since Friday’s announcement, 22 out of 35 covering brokerage analysts have raised their 2009 profit projections for INTC. The
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