Intel warns 3rd-quarter results will miss Wall Street expectationsBy AP
Friday, August 27, 2010
Intel warns 3Q results will miss expectations
SANTA CLARA, Calif. — The big chip maker Intel is cutting its sales forecast for the quarter ending in September. It says demand for personal computers has fallen below expectations.
Intel is the biggest provider of microprocessors for PCs and a bellwether for the broader technology industry.
The company says it now expects revenue for the quarter of $10.8 billion to $11.2 billion. That compares with a previous forecast of $11.2 billion to $12 billion.
On average, analysts surveyed by Thomson Reuters expected $11.5 billion.
Intel shares slipped a penny in morning trading to $18.17.