Intel Narrows Outlook; Shares Decrease
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Intel Corp. gave a fourth-quarter sales outlook that fell just below the average analyst estimate, deflating hopes that the world’s biggest chip maker would give a bullish forecast and sending its shares lower.
Intel, which makes the microprocessors found at the heart of nearly 90% of personal computers worldwide, said it now expected revenue of $10.4 billion to $10.6 billion, in the middle of its previous guidance of $10.2 billion to $10.8 billion.
Shares of Santa Clara, Calif.-based Intel fell 2.5% in extended trading after the forecast was issued.
The stock fell 45 cents, or 1.7%, to $25.70 in regular trading.
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