ChipsReutersabout 4 hours ago
Intel Shares Plunge 25% on Weak Outlook
3 min read
Intel shares tumbled 25% in premarket trading on Friday as CEO Lip-Bu Tan warned of a bleak outlook. The chipmaker forecast fourth-quarter revenue between $15 billion and $16 billion, below the $17.07 billion analyst average. PC chip sales are expected to decline more than 20% sequentially this quarter due to higher memory prices and weakening demand.
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