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Intel Cuts Sales Forecast on Lower Demand for Computers

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Intel Sales Forecast Falls Prey to Lower PC Demand

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Intel Corp. said first-quarter sales may be more than a $1 billion lower than it had forecast, hurt by weak corporate demand and sluggish economies, particularly in Europe.

The chipmaker’s shares fell to their lowest level since July after it said revenue will be $12.5 billion to $13.1 billion, compared with the prior outlook for $13.2 billion to $14.2 billion.