Intel Hits Low on Comments of Worst Fourth Quarter in a Decade

Intel (INTC Quote) was down 10.8% in late afternoon after hitting a 52-week low of $32. In addition to being hurt by Apple Computer's (AAPL Quote) warning, the chip bellwether was rocked by a research note from Salomon Smith Barney, which lowered its earnings estimates and said Intel's fourth quarter is "shaping up to be the worst in over a decade." Other chip stocks were down as well. The Philadelphia Stock Exchange Semiconductor Index (SOX Quote) was down 3.8%.