Welcome to the "Sharply Lower Revenue" Club, Intel
“Significantly weaker than expected demand” has claimed another victim: Intel’s (INTC) upcoming financial results. The chipmaker said Wednesday afternoon that it expects fourth fiscal quarter revenue to be “below expectations,” thanks to the lousy economy. Intel now sees revenues coming in at around $9 billion, well below its previous guidance of $10.1 billion to $10.9 billion.
“Revenue is being affected by significantly weaker than expected demand in all geographies and market segments,” Intel said in a statement. “In addition, the PC supply chain is aggressively reducing component inventories.”