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Intel reduces growth forecast

The world's biggest chipmaker, Intel Corp has reduced its growth forecast amid fears that the wavering global economy will continue to dampen computer sales, Sky News has reported. Intel has cut its revenue growth forecasts from between 3% and 5%, down from a previous forecast of "high single-digit growth." Shaky economies in Europe and the US and a growing consumer preference for Apple iPad tablets have been taking a toll on the PC industry, Intel said. The company forecast current-quarter revenue of $13.8bn to $14.8bn, while analysts on average had expected $14.6bn.