Intel has released new financial guidance, cutting its revenue prediction dramatically. Noting lower demand for desktops and declining inventory levels at retail of non-tablet computers, the company has reduced its first quarter revenue estimate to $12.8 billion, versus the $13.7 billon it was expecting, and informed investors of in its last quarterly earnings report.
Margin is expected to remain constant — low sales volume is being offset by higher average sale prices. The company also noted “challenging” currency exchange issues, as well as economic concerns in Europe for the downturn.
All other financial expectations previously claimed by Intel have been withdrawn and will be updated with the company’s first-quarter earnings report on April 14.
