(Updated with more analyst commentary and stock price.)
"If demand does not materialize in the next four to six weeks and the PC holiday builds are weak," there could be more downside for Intel, said Wedbush Securities analyst Patrick Wang. Right now, Intel "simply has no visibility to confidently guide Q4."
The chipmaker said Friday that its third-quarter revenue will be below the company's previous outlook due to weaker-than-expected demand for consumer PCs in mature markets.As a result, analysts believe demand in the consumer PC market over the next four to six weeks will significantly impact Intel's results. Intel said in a press release that it now expects third-quarter revenue to be $11 billion, plus or minus $200 million, compared with the previous expectation of between $11.2 billion and $12 billion.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV