Intel Cuts Third-Quarter Sales Forecast Amid Weak Demand
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Intel Corp., the world’s largest semiconductor maker, slashed its third-quarter sales forecast, citing declining demand for personal computers from corporate customers in a weakening economy.
Sales will be $12.9 billion to $13.5 billion, down from a prior projection of $13.8 billion to $14.8 billion, the Santa Clara, California-based company said in a statement yesterday. Analysts on average had estimated sales of $14.2 billion, according to data compiled by Bloomberg.