Skies darkening for Intel's third quarter
Intel said Friday that its third quarter revenue will be lower than expected.
The company in a statement projected revenue to be $13.2 billion, give or take $300 million. Intel had projected $13.8 billion to $14.8 billion.
Intel noted that it was seeing "weaker than expected demand in a challenging macroeconomic environment." Meanwhile, Intel noted that customers were cutting inventory. Specifically, Intel said:
Relative to the prior forecast, the company is seeing customers reducing inventory in the supply chain versus the normal growth in third-quarter inventory; softness in the enterprise PC market segment; and slowing … Read more