Intel Drags Down Chipmakers With Views on Weakening Demand

Intel Corp., the largest maker of computer processors, dragged down chip industry stocks after executives said a weaker economy will affect demand and hurt financial performance.

“I think on the macro side, clearly, it’s weaker,” Chief Financial Officer Dave Zinsner said Tuesday at a Bank of America conference. “That’s clearly going to impact us, as it will virtually everybody else in not only the semiconductor industry but globally in terms of corporations.”