Last month, Intel had said it expects sales of between $10.1 billion and $10.9 billion. The company will hold a mid-quarter update on Dec. 4 to give analysts a sense of how the company is doing in light of the market uncertainty.
Currently, analysts expect the company to report earnings of 37 cents a share on revenue of $10.4 billion, according to a consensus survey by FactSet Research. Analyst Auguste Richard of Piper Jaffray & Co. also trimmed his sales estimates for Intel to $10.2 billion, from $10.5 billion, saying, "We believe that Intel's channel business in emerging economies continues to be weak as the strong dollar has hurt both demand and the channel partners' ability to buy Intel products."
Richard also cited soft demand in the corporate technology market, adding, "In addition to the credit crisis, we think the upcoming product transition is slowing near-term server demand for the company."Analyst Krishna Shankar of JMP Securities also cut his revenue growth estimate for Intel from flat to down 5%, citing "recent cautious data points regarding softening PC/server processor demand from notebook and motherboard companies." End.
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