The Chips Are Down
Microchip manufacturer Intel's shares dropped 6% on Wall St yesterday after the company revised Q4 revenue down to $8 billion. In October the company was forecasting $10.1-10.9 billion. In November Intel revised this down to $9 billion, saying that there would be no more reductions.
Things could have been worse for Intel if it hadn't developed the Atom processor which powers the new range of low-priced mini laptops called netbooks.
Demand for PCs is clearly waning in the current economic climate.
Chinese-based Lenovo, one of the world's largest computer manufacturers, announced yesterday that is to cut more than 10% of it's workforce, also blaming the economic downturn.
The company also said it expected to see losses in the final quarter of the financial year.
Things could have been worse for Intel if it hadn't developed the Atom processor which powers the new range of low-priced mini laptops called netbooks.
Demand for PCs is clearly waning in the current economic climate.
Chinese-based Lenovo, one of the world's largest computer manufacturers, announced yesterday that is to cut more than 10% of it's workforce, also blaming the economic downturn.
The company also said it expected to see losses in the final quarter of the financial year.