Personal computer maker Dell Computers, delivered a boost to the markets and the beleaguered tech sector by raising its revenue and profit forecasts for the second quarter.
Dell came out and upped its second quarter guidance following the Wall Street close. The company said it now expects revenues of $8.3 billion, up 9 per cent. Its earnings forecast was increased to 19 per cent, up from an earlier guidance of 18 per cent.
The positive news from Dell has led to a bounce in the tech sector. Nokia early shares were slightly higher in afternoon trade
"At first Nasdaq closed higher and after that we had the news from Dell and Juniper Networks which boosted the share", said a telecoms analyst.
"Dell's guidance has been seen on the markets as a really strong sign, even though it was actually just a slight correction," he said.
Dell will announce its results on August 15th. It said a rise in consumer and government demand in the US had led to its rise in forecasts.
Dell employs over 3,100 people at its manufacturing base in Limerick.
