Intel Lowers Forecast Because of Shortages

The New York Times (Dec 12 2011)

1. The chip maker Intel Corp. said Monday that its fourth-quarter revenue would be lower than expected because of shortages of hard drives. Its shares tumbled more than 3 percent in early trading. Intel, a technology bellwether, said it now expected fourth-quarter revenue of $13.4 billion to $14 billion. It had previously forecast revenue of $14.2 billion to $15.2 billion for the holiday quarter. Analysts polled by FactSet were expecting revenue of $14.65 billion. Intel is the world’s largest maker of microprocessors, the brains of computers. The company said it expected personal computer sales to be up from the previous quarter. But it said computer makers are reducing inventories and microprocessor purchases because of hard drive shortages. (Read Full Article)

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