Intel Cuts Q4 Processor Sales, Revenue Forecasts
Intel, citing reduced demand for desktop and notebook processors, cuts its fourth-quarter financial forecast. Intel, the world's largest producer of x86 processors, now believes that its fourth-quarter revenue will only reach about $9 billion, rather than the $10.1 billion to $10.9 billion the company predicted just a few weeks ago. Intel says demand for processors is weak across the globe and PC makers are tightening their supply chain inventories.Intel is cutting back its fourth-quarter sales and revenue forecasts, saying there has been less demand for its desktop and notebook processors in the United States and throughout the rest of the globe. In a statement released Nov. 12, Intel said its revenue for the fourth quarter of 2008 is expected to be below what the company announced Oct. 12 during its third-quarter earnings report. Now, Intel expects fourth-quarter revenue of $9 billion, "plus or minus $300 million," rather than the previous expectations of $10.1 billion to $10.9 billion.
Intel originally promised to offer further financial guidance on Dec. 4, but the company pushed its revised forecast update to Nov. 12. In a statement, Intel said the new revenue forecast reflects weaker worldwide demand for its processors in all the company's market segments, including desktops, notebooks and servers.