INTC Trims Target Further – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/16685/INTC+Trims+Target+Further+-+Zacks+Tale+of+the+TapePosted on Wednesday, January 7th, 2009 | In Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -
Intel (INTC) released another revenue warning today in the face of waning consumer demand. The leading chip maker now expects fourth-quarter sales of $8.2 billion, which is down 23% year-over-year.
The company reduced its fourth quarter sales estimates twice over the last two months.
The Santa Clara-based company is expected to post fourth-quarter results on Jan 15. Analysts see profit of 22 cents in the latest quarter.
Shares are down more than 4%. Intel is a Zacks #5 Rank (”Strong Sell”) company.
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