Intel 3rd quarter results on Friday confirmed fears about PCs sales. The firm dropped its expectations for its summer results based on a slump in PC sales. The revenue outlook from a range of $11.2 billion to $12 billion down to $11 billion with a range of $200 million above or below. The company pinned the drop on “weaker than expected demand” among home PCs.
The company wouldn’t name clients, but it corroborated rumors of Acer, HP and Lenovo shedding orders by noting that inventory of PCs was “in-line” with its newly lowered guidance.
A resurgence of economic worries may have cut spending by customers leery of big purchases, but it may also reflect a move away from full computers and towards phones and tablets for some tasks.
The company will update fourth-quarter and full-year expectations with its third-quarter earnings report on Oct. 12
