Intel Cuts 3Q Revenue Outlook On Softer Demand
 

According to the Associated Press, Intel is lowering its 3Q revenue forecast due to softer-than-expected demand amid "difficult economic conditions." Intel said emerging market demand is slowing and that there is weakness in its enterprise PC unit. It is also seeing customers trimming inventory in the supply chain compared to the normal inventory growth it typically sees in the third quarter. Intel said that its data center business is meeting expectations. The Santa Clara, Calif., company also lowered its gross margin forecast to 62 percent, give or take 1 percentage point. Its previous forecast was for gross margin of 63 percent, give or take 2 percentage points.

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