Intel Warns 3Q Results Will Miss Expectations

Intel has just announced that it is cutting sales forecasts for the current quarter. Intel shares slipped a penny in morning trading to $18.17.

Intel is the world's biggest provider of microprocessors for PCs and a bellwether for the broader technology industry. In a statement Friday, the company said it is seeing "weaker than expected demand for consumer PCs in mature markets." The company says it now expects revenue of $10.8 billion to $11.2 billion for the fiscal third quarter, which ends in September. That compares with a previous forecast of $11.2 billion to $12 billion.

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