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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED
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To: Dealer who started this subject9/21/2000 4:42:34 PM
From: Sully-  Read Replies (1) of 65232
 
Intel warns revenue will be below expectations

By: Michael Kanellos, CNET News.com
9/21/00 1:38:00 PM
Source: News.com
URL: cnetinvestor.com

Intel today warned third-quarter revenue would be below expectations, primarily because of weaker demand in Europe.

The chipmaker said revenue for the third quarter will likely be approximately 3 percent to 5 percent higher than second quarter revenue of $8.3 billion. Previous forecasts called for better growth this quarter.

Profit expectations will also likely be affected this quarter. In addition, the company warned that gross margin for the third quarter would come in at approximately 62 percent, lower than the company's previous expectations of approximately 63 to 64 percent.

Meanwhile, profit from interest and other outside sources is now expected to come to $900 million for the third quarter, up from the previous guidance of $800 million.

Typically, revenue increases more than three to five percent between the second and third quarter. A recent report from Morgan Stanley Dean Witter, for instance, predicted the microprocessor market as a whole would grow by 12 percent this quarter over last quarter. Intel itself said revenue would rise in the third quarter, and indicated it expected to see a typical seasonal jump. The company, however, did not predict percentage growth.

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