Santa ClaraIntel beat revenue guidance and still lost 23% after hours.
CEO Lip-Bu Tan forecasts the personal computer chip market will shrink 12% next year.
Tan blamed memory prices for computer makers cutting orders, while Intel lacks wafers and substrates for server demand.
“We will likely not fully meet what they require,” said chief financial officer Dave Zinsner.
Fourth-quarter revenue guidance is $15 billion to $16 billion, against analysts’ $17.05 billion estimate.
How each outlet framed it
drawn from 100+ reports worldwide
- TheRegister.com leans critical
- frames the drop as a PC-demand problem driven by memory prices, quoting Lip Bu Tan on OEMs cutting inventory
- Yahoo! Finance leans critical
- centres market reaction on Cramer's fury and Macke's jab at government stakes, with Munster and Moorhead pinning the guide on PC demand and memory costs
Sources: TheRegister.com, Yahoo! Finance