Intel (http://www.intel.com) says third-quarter revenue will be below the company’s previous outlook. The company now expects third-quarter revenue to be US$11.0 billion, plus or minus $200 million, compared to the previous expectation of between $11.2 and $12.0 billion.
Revenue is being affected by weaker than expected demand for consumer computers in mature markets. Inventories across the supply chain appear to be in-line with the company’s revised expectations.
The company’s expectation for third-quarter gross margin is now 66%, plus or minus a point, lower than the previous expectation of 67%, plus or minus a couple of points. The impact of lower volume is being partially offset by slightly higher average selling prices stemming from solid enterprise demand.
Equity investments, interest and other is expected to be $175 million, consistent with the company’s revised expectation reported on Form...| Read more »