/// Intel Lowers Sales Outlook for Third Quarter on Weak Demand for Chips
Bad news from Intel just crossed the wires. The company says that it expects sales in the third quarter ending in September to come in below its previously-issued guidance. It now says it expects sales of $13.2 billion, give or take $300 million, versus the prior expectation where the range was $13.8 billion to $14.8 billion. It also said it expects its gross margin, one of the key indicators of the health and profitability of its business, will be about a point lower than previously expected: 62 percent, plus or minus a point, which is a reduction from 63 percent, plus or minus two points. Intel shares fell by about 2 percent in premarket trading to $24.60, down 49 cents. Rival Advanced Micro Devices fell by three cents, or nearly 1 percent, to $3.63. Hewlett-Packard is down eight cents, or about one-half of 1 percent, to $17.51. Dell shares rose by three cents to $10.55. Time was that a report like this from Intel could weigh heavily on the Nasdaq, but as of 8:33 am ET, the exchange is still indicating up, though give it a few minutes once the market gets its head around the weaker-than expected jobs report that just hit the wires about three minutes ago.
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Intel Lowers Sales Outlook for Third Quarter on Weak Demand for Chips
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