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Intel Cuts 4Q Revenue Outlook On Lower PC Production

Wall Street Journal - Dec 12, 2011

Intel Corp. (INTC) warned its fourth-quarter revenue will fall about $1 billion short of its previous guidance as shortages of hard-disk drives is expected to hurt its core PC market for the next few months.

The worst flooding in decades in Thailand has dismantled or damaged a large chunk of the world's hard-drive manufacturing operations, causing a slowdown in PC production and the need for fewer chips by computer makers, Intel said. The Santa Clara, Calif., company had said it didn't expect an impact in the current period from the flooding.

Intel expects the weakness to continue through the first quarter. The slowdown in computer production comes as the rise of tablets weigh on demand for PCs and as concerns grow about the global economy because of Europe's problems and the perception of slowing growth in China.

Monday, Intel said it now expects fourth-quarter revenue of $13.7 billion, plus or minus $300 million, down from the previous view of $14.7 billion, plus or minus $500 million. Intel also lowered its fourth-quarter gross margin view to 64.5%, plus or minus a couple of percentage points, versus 65%, plus or minus a couple of percentage points.

Read Full Article from Wall Street Journal

- Posted: 2011-12-12 09:54:56

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