Intel's earnings are out!
TheStreet: Intel's profit narrowed in the first quarter, but the chipmaker posted sales that were slightly ahead of Wall Street expectations and rebutted fears of a tech spending slowdown with a strong sales outlook for the current quarter.
Barrons: Solid results from Intel has triggered a wave of after-hours enthusiasm for PC-related stocks.
Barrons: One more tidbit from the Intel release worth repeating: the company did not cut its capital spending plans for 2008.
What's it all mean? It'd good news that INTC is not cutting their capital spending plans for 2008. I think it means that if we are in a recession, it's a small one and that soon, Wall Street will begin to anticipate faster economic growth.