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Intel fourth-quarter forecast sharply down due to weak demand
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Posted on Thursday, November 13 2008 @ 00:34:52 CET by Thomas De Maesschalck |
Intel send out a warning to investors today that its fourth-quarter revenue will be lower than it had anticipated due to weak global demand. The company now expects fourth quarter revenue to be $9 billion, plus or minus $300 million, versus the previous expectation of between $10.1 billion and $10.9 billion.
Revenue is being affected by significantly weaker than expected demand in all geographies and market segments. In addition, the PC supply chain is aggressively reducing component inventories.
The company's expectation for fourth-quarter gross margin is now 55 percent plus or minus a couple of points, lower than the previous expectation of 59 percent plus or minus a couple of points, primarily due to lower revenue and other charges associated with the weaker-than-expected demand environment.
Spending (R&D plus MG&A) is expected to be approximately $2.8 billion in the fourth quarter, lower than the previous expectation of approximately $2.9 billion, primarily due to lower revenue- and profit-related spending. For the full year, spending is expected to be approximately $11.4 billion, lower than the previous expectation of approximately $11.5 billion.
The earnings warning send Intel's stock down 7.10 percent to $12.56, which seems to be one of its lowest levels since 1996.
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