Friday, September 3, 2004
Intel cut its third quarter sales forecast and lowered its gross margins outlook, the company announced after market closed Thursday.
Intel said it now expects sales for the third quarter to be in the range of $8.3 billion to $8.6 billion. The $8.45 billion midpoint of this range is much lower than the consensus estimate of $8.9 billion. Intel had said in July that it expected sales to be between $8.6 billion and $9.2 billion.
Intel also guided down the gross margins to 58 percent. The company's previous guidance was about 60 percent. Intel referred to the slowdown in demand as being "modest in scope" and taking place across all geographies.
By: DocMemory
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