Intel slashes 4Q outlook on dimming PC demand (AP)

Intel Corp. CEO Paul Otellini is pauses during a keynote address to the Oracle Open World conference in San Francisco, Sept. 23, 2008. Intel Corp. sharply cut its fourth-quarter sales projection Wednesday, indicating just how severely technology spending is being slammed to a halt in the economic turmoil. The chip maker now expects revenue to come in at about $9 billion, down from a previous estimate of $10.1 billion to $10.9 billion, as personal computer makers look to cut back on their parts inventories. (AP Photo/Paul Sakuma)AP – Intel Corp. whacked more than $1 billion from its fourth-quarter revenue forecast and ratcheted down its profit expectations because a clampdown on spending is reducing demand for its chips.

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