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Published November 13, 2008, 12:00 AM

Intel warns of lower revenue

Intel Corp. sharply cut its fourth-quarter sales projection Wednesday, indicating just how severely technology spending is being slammed to a halt in the economic turmoil.

SANTA CLARA, Calif. (AP) — Intel Corp. sharply cut its fourth-quarter sales projection Wednesday, indicating just how severely technology spending is being slammed to a halt in the economic turmoil.

The chip maker now expects revenue to come in at about $9 billion, down from a previous estimate of $10.1 billion to $10.9 billion, as personal computer makers look to cut back on their parts inventories. Analysts polled by Thomson Reuters expected $10.3 billion, on average.

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