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Intel lowers sales targets amid gloomy economy
Published in Saudi Press Agency on 27 - 08 - 2010


Amid growing fears over the health of the
US and world economies, Intel Corp on Friday lowered its sales
forecast for the third quarter citing lower than expected demand for
personal computers.
The world's largest maker of computer chips said it expected
revenue of between 10.8 billion dollars and 11.2 billion dollars -
significantly lower than the rosy forecast it issued just last month
of between 11.2 billion dollars and 12 billion dollars, dpa reported.
"Revenue is being affected by weaker than expected demand for
consumer PCs in mature markets," Intel said. "Inventories across the
supply chain appear to be in-line with the company's revised
expectations."
Intel powers 80 per cent of the world's personal computers and its
revised forecast followed a report from research firm Gartner which
slashed its previously upbeat assessment of world technology
spending.
Intel is regarded as a bellwether for the tech economy, and had
seen its position improve dramatically over the last year as
consumers and businesses loosened their purse strings and the
popularity of Microsoft's Windows 7 operating system prompted a new
wave of computer upgrades.
Intel's long-term prospects however are clouded by a shift to
online and mobile computing where high performance PCs are
increasingly being replaced by smartphones, netbooks and tablet
computers that use internet-based servers to perform many of the
tasks previously handled by PCs.


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