Intel Forecasts December-Quarter Sales and Profit Below Analyst Expectations
Intel cited ongoing PC-market challenges, manufacturing bottlenecks and high production-expansion spending. Its shares fell significantly in overnight trading.
Intel Corporation issued a financial forecast for the December quarter that missed analyst expectations for both sales and profit. The company attributed the weak outlook to ongoing challenges in the personal computer market, where it supplies CPUs, as well as manufacturing bottlenecks and high expenditures related to production expansion. Following the announcement, Intel shares experienced a significant decline in overnight trading. The company's performance and guidance have been highlighted as a point of concern for the broader technology sector.