Intel Cuts Earnings Outlook Stock Dumps Pre-Market (03/12/2015)

Bulls are getting killed in this market and every day it seems a big name stock blows up.

Today it is Intel gapping down 4% in pre-market.

Intel has revised its outlook for the first quarter of 2015. It now expects first-quarter revenue to be $12.8 billion, plus or minus $300 million, compared to the previous expectation of $13.7 billion, plus or minus $500 million.

The company attributes this change to weak demand for business desktops PCs. In its statement, Intel also says that fewer than expected businesses upgraded from Windows XP computers, which could have contributed to lower inventory levels across the PC supply chain.

Full story here.

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