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Politics : Formerly About Advanced Micro Devices

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To: bentway who wrote (434740)	11/13/2008 12:25:01 AM
From: Jim McMannis	Read Replies (2) of 1577076

**Intel Slashes Revenue Forecast Intel Cuts 4Q Rev View Amid Weaker Demand; Shares Slump Intel sharply reduced its fourth-quarter sales expectations Wednesday, citing "significantly" weaker-than-expected demand in all regions and across all product types. he world's No. 1 maker of PC microprocessors said revenue in final three months of the year is now expected to be $9 billion, plus or minus $300 million, instead of its previously forecasted range of $10.1 billion to $10.9 billion. Intel also said its gross profit margin in the quarter will be 55%, plus or minus a couple of points, instead of the 59% level previously expected. The news comes a week after CEO Paul Otellini described the current economic slowdown as the worst he'd seen in his lifetime. Intel was slated to give Wall Street a midquarter update on Dec. 4, but the company said that Wednesday's warning replaces that event. Shares of Intel were halted; they're scheduled to resume trading at 5:20 p.m. EST. The stock closed the regular session off 2.9% to $13.54. thestreet.com

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