Intel Tumbles on Data Center Sales Decline, Tepid Forecast
- Results stoke more concern about waning industry leadership
- CFO gives no update on Intel’s production technology problems
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Intel Corp. shares slumped after a surprise drop in data center sales and a tepid forecast added to concern that the company is losing its lead in computer chips.
The data center business, a major source of Intel profit, suffered a 10% decline in third-quarter revenue compared with a year earlier after a weak economy hurt sales to large companies and government customers. Sales to cloud computing providers will slow in the current period, Intel said.