Intel in slide, slashes sales forecast

November 13th, 2008 - 12:11 pm ICT by IANS  

San Francisco, Nov 13 (DPA) Reflecting a sharply weaker economy, Intel, the world’s largest maker of computer chips, slashed its fourth-quarter sales forecast Wednesday by more than $1 billion.The technology bellwether said it now expects sales to come in at $8.7 billion to $9.3 billion, compared to an earlier prediction of between $10.1 billion and $10.9 billion.

The company makes chips that power more than three-quarters of the world’s computers.

Intel said that customers worldwide were “aggressively” chopping orders as they cope with falling sales. The revision signals how quickly the US economic slump is spreading around the world.

Also Wednesday, market research firm IDC downgraded its forecast of worldwide technology spending next year. The company predicted that spending will rise 2.6 percent in 2009, down from an earlier growth estimate of 5.9 percent.

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