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Last Updated: Friday, 5 March, 2004, 06:00 GMT
Chip stockpile to hit Intel sales
Intel HQ
Intel sets the tone for the tech sector
Chip giant Intel has downgraded its sales expectations after a stockpile of semiconductors has built up in Asia.

The firm had previously predicted it would bring in $7.9-8.5bn in the first three months of 2004.

But the over-supply in Asia and Japan means that it is now predicting $8-8.2bn, the first time in several quarters that forecasts have been lowered.

Analysts said the hitch was probably a one-off, following the firm's near-doubling of profits at the end of 2003.

In January, the firm said it made $2.2bn in the final three months of last year, 50% higher than observers had predicted.

But Intel had warned at the time that it saw the possibility of a sales slide in the current three-month period.

Much of the firm's revenues now come from laptop computers, particularly those which contain its Centrino wi-fi technology.

But the Taiwanese manufacturers which now supply laptops to name-brands around the world say that the usual January slowdown - following the busy end-of-year holiday season - has been sharper than usual.

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