1. Intel slashes outlook as PC demand weakens

    Intel slashes outlook as PC demand weakens

    Intel severely cut its third-quarter sales forecasts Friday as demand for personal computers has slowed beyond expectations.

    The world's largest chipmaker said it now expects revenue of between $12.9 billion and $13.5 billion in the current quarter, down from its previous forecast of between $13.8 billion and $14.8 billion. Intel said corporations are ordering fewer PCs, consumers in emerging markets are sitting on the sidelines, and PC manufacturers are reducing their inventories to meet sinking demand.

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