Intel Warns Chip Sales Slid; Chops Revenue Estimate To $13.2B

By David Zielenziger | September 07 2012 9:43 AM

Intel (Nasdaq: INTC), the No. 1 chipmaker, warned third-quarter sales would be far below prior estimates, chopping as much as $600 million from predictions.

Sponsorship Link

The Santa Clara, Calif., chipmaker said revenue will likely be around $13.2 billion, rather than in the range between $13.8 billion to $14.8 billion. Intel said revenue could be as much as $300 million lower or higher than the new target.

The surprise news sent Intel shares down 75 cents, or more than 3 percent, to $24.34 in early Friday trading.

More in Companies

United Colors of Benetton Launches 'Unhate' Campaign, Less Edgy Than Previous Ads

United Colors of Benetton Launches 'Unhate' Campaign, Less Edgy Than Previous Ads

The Korean Men Makeup Fad: South Korea Is Largest Market For Men?s Skincare In The World

The Korean Men Makeup Fad: South Korea Is Largest Market For Men?s Skincare In The World

The Top Post-Market Nasdaq Movers (Brightcove, Body Central, Renewable Energy, 3SBio, AngioDynamics, Kraft Foods, Idenix, TriQuint, Take-Two Interactive, Tree.com)

The Top Post-Market Nasdaq Movers (Brightcove, Body Central, Renewable Energy, 3SBio, AngioDynamics, Kraft Foods, Idenix, TriQuint, Take-Two Interactive, Tree.com)

Apple Tops $700 Mark, Year After Hitting $400

Apple Tops $700 Mark, Year After Hitting $400

In Depth

Paris Air Show, Day 1: Planes And People At Le Bourget [PHOTOS]

Paris Air Show, Day 1: Planes And People At Le Bourget [PHOTOS]

Popular Ford Fusion Selling Out On High Demand, Firm's Inventory Being Quickly Depleted

Want To Buy A Ford Fusion? Get In Line

'Man Of Steel' Movie Review: Zack Snyder Dishes Up A Superman Of Half Baked Fables

'Man Of Steel' Review: Oh, The Humanity

Syrian Intervention: Risk Of Arming Radicals Depends On The Weapons

Syria: Risk Of Arming Rebels Depends On Weapons Type

web counter