Intel last night set a sales target slightly below the Wall Street average to send the chip maker's shares 3 per cent lower as it dashed some hopes raised by more bullish rivals.
Intel, which makes the microprocessors found in nearly 90 per cent of personal computers worldwide, said it now expects revenue of $10.4 billion to $10.6 billion, in the middle of its previous range of $10.2 billion to $10.8 billion.
Analysts have expected revenue of $10.6 billion.
Intel said business was still strong, thanks to growth in emerging markets and demand for notebook computers.
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The company is also benefiting from better manufacturing technologies that let it make chips more cheaply.