NEW YORK (Reuters) - Intel Corp on Monday raised its third-quarter revenue forecast and said gross margins would be at the high end of its target range, citing stronger-than-expected global demand for computing products.

The news underscored recent investor confidence in technology stocks, which have emerged as a safe haven amid troubles in the U.S. credit and mortgage markets.

Shares of Intel, the world’s largest microchip company, were up 0.75 percent at $25.66, after rising as much as 2.9 percent earlier on the Nasdaq. The stock has risen about 25 percent this year, whereas chief rival Advanced Micro Devices Inc

Princeton Tech Research analyst Paul Leming said Intel’s bullish forecast suggests the personal computer market has fared well in recent weeks despite concerns about consumer confidence due to troubles in the credit and housing markets.

“A portion of this certainly is market share gains momentum continuing to move over to Intel, and, secondarily, I think this has some positive things to say about the state of the PC market in the important back-to-school season,” he said.

Intel raised its forecast for third-quarter revenue to between $9.4 billion and $9.8 billion, from its previous range of $9.0 billion to $9.6 billion.

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