“Top chipmaker Intel Corp. reduced its growth forecast, reinforcing fears that a wavering global economy and a lack of consumer interest are dampening personal computer sales,” Noel Randewich reports for Reuters. “Shaky economies in Europe and the United States and a growing consumer preference for Apple Inc’s iPad tablets have been taking a toll on the PC industry.”
“The world’s leading chipmaker on Tuesday cut its 2012 revenue growth forecast to between 3 and 5 percent, down from a prior forecast of ‘high single-digit growth,'” Randewich reports. “That put Intel’s outlook in line with many investors’ recently reduced expectations and helped cushion a sell-off of its stock.”
Randewich reports, “Fears that global PC sales may be worse than expected have helped push Intel’s shares down about 10 percent since the end of April… Intel’s report came after its smaller rival Advanced Micro Devices last week slashed its outlook for second-quarter revenue on disappointing sales in Europe and China, where economic growth has recently lost some steam.”
“Intel supplies processors for 80 percent of the world’s PCs but it has yet to make significant progress in fast-growing tablets or smartphones, products that use chips based on technology from British-based ARM Holdings,” Randewich reports. “While the tablet market is still small, demand for the devices is growing much more quickly than for PCs. Shipments of tablets including Apple’s iPad are expected to grow 90 percent this year, according to IHS iSuppli.”
Read more in the full article here.
MacDailyNews Take: Yeah, “tablets including Apple’s iPad.” It is to laugh.
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