The IT industry has taken courage from Intel's second-quarter results, released yesterday, which indicate that the market may have bottomed out and be gearing for a recovery.

The chip-maker reported that its gross margin grew 51% in the quarter, up 5,5 points sequentially.
Intel reported second-quarter revenue of $8-billion. Excluding the effects of the European Commission fine, the company had non-GAAP operating income of $1,4-billion, net income of $1-billion and EPS of 18 cents.
On a GAAP-basis, the company reported an operating loss of $12 million, a net loss of $398-million and a loss per share of 7 cents.
"Intel's second-quarter results reflect improving conditions in the PC market segment with our strongest first- to second-quarter growth since 1988 and a clear expectation for a seasonally stronger second half," says Paul Otellini, Intel president and CEO.
"Intel's strategy of investing in new technologies and innovative products, combined with ongoing focus on operating efficiencies, continues to yield benefits that are evident in our strengthening financial performance."