Intel joins industry dirge as it lowers its financial projections

Article Abstract:

Santa Clara, CA-based Intel Corp. has lowered its fourth-quarter revenue projections citing the slowing of the world economy and less demand for PCs. Intel's projected growth figures had been between four and eight percent, but the likely figure is only two percent.

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3 chip makers lower profit estimates; slowing demand and growing inventories are key factors

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Cypress Semiconductor, Vitesse Semiconductor and LSI Logic warned that they would have lower sales and earnings this quarter dueto slowing demand and growing inventories.

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Intel says sales for quarter are on track

Article Abstract:

Intel Corp.'s third quarter revenues to be between $6.2-$6.8 billion as forecasted in July. The semiconductor giant was pleased with sales in July and August countered by a Japanese slump in demand. Shares went up to $26.90 on the news. Intel is ahead of schedule on cutting employees, 5,000 through attrition and a buyout program. Intel is also ahead of schedule with the marketing of its Pentium 4 chip. The company's revenue forecast is seen as the first good news in a long time for the nosediving chip industry.

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