Intel's Earnings Leap On Business Demand For PCs
by Jordan Robertson
SAN FRANCISCO- (AP) - Intel Corp. exceeded Wall Street's expectations with first-quarter earnings that jumped 29 percent, as businesses extended their yearlong buying streak and bought lots of new computers.
Strong corporate demand for PCs helped Intel overcome a serious product blunder and fallout from the deadly earthquake and tsunami in Japan. The rise of Apple Inc.'s iPad poses a long-term threat to the PC industry because the device is wooing away laptop buyers, but so far the trend appears to have had little impact on Intel's results.
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