Intel today warned that third-quarter revenue could fall short of its own estimates by more than $1 billion on weaker-than-expected demand for personal computers.
The company, which dominates the market for PC microprocessors, said it expects third-quarter revenue to be $10.8 billion to $11.2 billion.
That compares with its previous forecast of $11.2 billion to $12.0 billion, and analysts' average expectations of $11.5 billion.
It now sees gross margins in the period of 65 per cent to 67 per cent. It had previously forecast gross margins of 67 per cent plus or minus a couple of points.
Shares of Intel were up 1.2 per cent at $18.40 in active trading today on Nasdaq.
Reuters