Intel, creator of tiny chips which run the world’s computers, records its profits for the first quarter as being 2 billion dollars. An amazing amount of money, but not surprising, at least for Patrick Wang of the WedBush Securities located in New York. According to Patrick Wang, Intel is really a cash machine, and it is pretty amazing how Intel generates money.

In lieu of the quarter earnings report and other factors, Intel predicted yesterday that by the end of the year, it will reach 12 billion dollars, a record prediction which is then followed up with a prediction for next year’s sales. According to Intel, next year will be worth 13.5 billion dollars.

The earnings this year shattered what Wall Street has foreseen that 2010 is a grim year for the computer chip company. Intel reached a profit margin of 67 percent, contrary to what financial analysts have predicted that they will gather. For their official statement, Edward Snyder of Charter Equity Research informed that:

In a quarter where people expected relatively strong performance, [Intel] beat that pretty handily and set a good forecast. This going to be really good for a lot of other technology companies, particularly enterprise.

What’s good to know is that Intel has a business flourishing in Southeast Asia. As many economies rely on their business, the international company will be sticking to its financial goals for the rest of the year.