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Intel Boosts Revenue Forecast as Business Demand Picks Up

Intel Corp.’s stock soared to its highest level in more than a decade, fueled by an improved sales forecast as companies start spending more to upgrade their aging computer systems.

The stock today jumped 6.8 percent to close at $29.87, the highest level since February 2004, after the world’s largest semiconductor maker raised its second-quarter revenue projection yesterday after the markets closed. Intel also said annual sales will increase for the first time since 2011, buoyed by improving business demand for personal computers.