Intel Corp. (INTC) Friday said it expects revenue of $8.7 billion to $9.1
billion in the first quarter, below its previous forecast for revenue of $9.1
billion to $9.7 billion.
The Dow Jones industrial average component cited weaker than expected demand
and a slight market segment share loss for the lower projection.
Intel also said it anticipates its gross margin for the first quarter will be
hurt by the lower revenue view.
Shares of the Santa Clara, Calif., chip giant were off 31 cents, or 1.5%, to
$20.18 on Instinet volume of 777,188 in premarket action.