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Intel slashes revenue forecast for Q4
HDD shortage to blame
Intel has announced that it will miss fourth quarter revenue forecasts due to hard drive shortages.
Originally, the chipmaker was eyeing revenues in the $14.2 to $15.2 billion range, but now it expects to end the quarter with $13.4 to $14 billion. The market did not take the news well and Intel shares dropped more than 4 percent following the announcement.
In a brief statement Intel said the PC supply chain was affected by HDD shortages and that partners were cutting their CPU orders as a result. Chipzilla reckons the shortage will continue into the first quarter, but it should recover during the first half of 2012.