Intel announced today that it’s chopping $1 billion off its sales forecasts for the forth quarter of 2008. Previously, Intel had anticipated over $10 billion in sales during the last three months of the year. Now, they’re expecting $9 billion, but the 10 percent drop in expected revenues also comes with a cut into their profit margins which are expected to fall from 60 percent to 55 percent.
This news comes as a result of a rough market right now that’s affecting many companies. Recently, both Cisco and Lenovo also reported their sales have fallen by up to 78 percent.
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