Page last updated at 11:28 GMT, Thursday, 8 January 2009

Intel in second revenue warning

Intel micro processing chip
Slowing demand for computers has hit chipmakers

Intel, the world's biggest computer chip maker, has cut its forecast for its fourth-quarter earnings again as spending on computers slows.

Intel estimated that its quarterly revenue was likely to be 23% lower for the three months to the end of December from a year earlier at $8.2bn (5.4bn).

This is the second downward revision since November's $9bn estimate, but analysts said it came as no surprise.

Before November, Intel had estimated quarterly revenues would reach $10.9bn.

"It shows that IT departments are being very careful with their dollars," said Kim Caughey, senior analyst at Fort Pitt Capital.

Walter Todd, a portfolio manager at Greenwood Capital Associates, said: "If you are surprised by this news then you've been on a desert island. We all know the economy is weak."

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