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Chipmaker raises revenue forecast

If PMC-Sierra meets its revised estimate, it will experience growth of between 8 percent and 10 percent, compared with the previous quarter.

PMC-Sierra, a maker of telecommunications chips, has raised its revenue forecast for the second quarter.

The Santa Clara, Calif.-based company said Friday that revenue for the quarter, which ends June 27, is likely to be in the range of $85 million to $86.5 million, which would represent growth of between 8 percent and 10 percent, compared with the previous quarter. In April, the chipmaker had projected a figure of between $83 million and $85 million.

Analysts on average had expected revenue of about $84.2 million, according to Reuters Estimates.

The report follows similar news from Intel, which earlier this week revised its forecast for the quarter, saying it now expects revenue of between $8 billion and $8.2 billion. The company cited increased demand for flash memory chips.