Intel warns 3Q results will miss expectations

Chip-maker Intel Corp. is cutting its sales forecast for the quarter, adding fresh evidence that a rickety economy is putting a damper on the back-to-school shopping season.
Intel is the world's biggest provider of microprocessors for PCs and a bellwether for the broader technology industry.
In a statement Friday, the company said it is seeing "weaker than expected demand for consumer PCs in mature markets," including the U.S. and Europe.
The warning comes a little more than a month after Intel reported its biggest quarterly profit in a decade. But those results were fueled by a rebound in technology spending at corporations, many of which held off replacing older computers during the recession.
Home computer purchases are another matter. Uncertainty about jobs is still keeping people's spending in check.
Intel said it now expects revenue of $10.8 billion to $11.2 billion for the fiscal third quarter, which ends in September. That compares with a previous forecast of $11.2 billion to $12 billion.

On average, analysts surveyed by Thomson Reuters expected $11.5 billion.