Recession Hits Intel Where It Hurts

[qi:043] Well that didn’t take long. Intel (s intc) after the close of markets today issued its fourth-quarter revenue forecast — something it had said it would do on Dec. 4 — and as expected, cut its guidance by some $1 billion, citing “significantly weaker-than-expected demand in all geographies and market segments.” The chipmaker now expects fourth-quarter revenue to be $9 billion, give or take $300 million, vs. a prior outlook of between $10.1 billion and $10.9 billion. The recession and drop in consumer spending are doing a number on the consumer electronics supply chain, and Intel is not immune.