Intel Cuts Fourth-Quarter Sales Forecast on Drive Shortage
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Intel Corp., the world’s largest chipmaker, reduced its fourth-quarter revenue forecast by about $1 billion, saying a shortage of hard-disk drives is cutting customers’ production of personal computers.
The company said revenue will be $13.7 billion, plus or minus $300 million, compared with a previous estimate of $14.7 billion, give or take $500 million, according to a statement today. Analysts predicted $14.7 billion, the average of estimates compiled by Bloomberg.