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Intel lowers sales outlook, PC demand down
- Middle East: Monday, September 10 - 2012 at 12:27
Intel Corp has cut its estimate for the third-quarter revenue and withdrew its full-year forecast citing a fall in demand for its chips, as customers reduced inventory and businesses bought fewer personal computers, Reuters has reported. The world's largest chipmaker lowered its full-year revenue forecast in July, saying consumer spending in Europe and the US had been weaker than what the company had previously expected. The company said on Friday it expects third-quarter revenue of $13.12bn, plus or minus $300m, down from its previous forecast of $13.8bn to $14.8bn. Full-year capital spending is expected to be below the low-end of its previous forecast of $12.1bn to $12.9bn, the company said.
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