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Updated from 12:08 9.m. EST
The PC sales slump continues to crush Intel's (INTC Quote) fourth-quarter numbers.
The Santa Clara chip giant warned Wednesday that its early sales tally shows a top line of $8.2 billion, down 20% from the prior quarter and 23% below year-ago levels. Analysts had been looking for revenue of $8.7 billion.
This is Intel's second downward revision to its sales guidance in two months. In November, Intel cut its sales forecast to between $8.7 billion and $9.3 billion, down from between $10.1 billion and $10.9 billion previously. Then, as today, the company Wednesday blamed "further weakness in end demand and inventory reductions" by its PC customers for the even lower sales performance. ...
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