Electronics Production |
Intel cuts 3Q forecast
Intel on Thursday reduced its revenue projection for the third quarter, citing factors such as lower-than-expected demand for products including its PC processors.
The high-tech comeback is beginning to look like a mirage. Intel Corp. delivered the latest sign of a high-tech malaise late Thursday as management lowered the company's financial projections after concluding businesses and consumers aren't in a spending mood, Yahoo! Finance reports.
Intel, in its traditional midquarter update statement, said it expects to turn in revenue of between $8.3 billion and $8.6 billion for the three-month period. In July, Intel had predicted that its third-quarter revenue would total between $8.6 billion and $9.2 billion, News.com reports.
