Intel Cuts Third-Quarter Sales, Gross Margin Forecast

Intel Corp., the world’s biggest chipmaker, cut its third-quarter revenue forecast, citing weaker-than-expected consumer demand for personal computers in mature markets.

Sales will be $11 billion, plus or minus $200 million, compared with a previously forecast range of $11.2 billion to $12 billion, the company said today. Analysts had predicted $11.5 billion, the average of estimates compiled by Bloomberg. Gross profit margin won’t reach the high end of the previous forecast, Intel also said.