Reported by: Eric CRWE Newswire Middle East correspondent
Intel Corp (NASDAQ: INTC) has revised its forecasts for the third quarter of 2010. The top microprocessor manufacturer expects revenue of $11 billion; this has been revised from earlier projection of revenue between $11.2 billion to $12 billion.
The company lowered its expectations as it anticipates lower demand for consumer PC’s in developed markets. As per IDC data lower consumer spending will result in a drop in PC shipments for the second half, eventually affecting business of Intel Corp’s and other related companies.
IDC spokesperson stated, “We expect consumer activity to remain healthy, but gradually slow through the end of the year, while commercial market growth will be more stable, reflecting a planned replacement cycle over the next several years.”
PC shipments gained in the first half 2010 as compared to last year as the economy began a recovery from the recession but now PC manufactures like Dell Inc expects a sluggish demand for the second half of 2010.
On the other hand chief financial officer of Dell Inc Brian Gladden also projects a surge in demand for consumer PCs by the end of the year due to the holiday season.
According to one estimate almost 80 percent of computers globally opt for Intel micro processors. Intel Corporation (Public, NASDAQ:INTC) gained 1.05 percent to $18.37 with total traded volume of 135.20 million shares for the day.
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