(MENAFN) Intel Corp. lowered its first-quarter forecast, citing lower-than-expected demand for corporate computers and weakening economies especially in Europe, Arab News reported.
The world's biggest chipmaker expects revenue of USD12.8 billion, plus or minus USD300 million, down from a previous forecast of USD13.7 billion, given or taken USD500 million.
The announcement signals the end of a corporate hardware upgrades that helped the personal-computer market's downward slide to stabilize in 2014. Intel's chips are in more than 80 percent of PCs.
"People were expecting things to be weak, and there was a question of how much. They tipped over the edge," an analyst at Sanford C. Bernstein & Co., said in a telephone interview.
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