Intel tumbles after forecast suggests comeback is far off

Intel expects to lose 15 US cents (64 sen) in the first quarter, excluding some items. Analysts had projected a profit of 25 US cents (RM1.06). — Reuters

INTEL Corp gave one of the gloomiest quarterly forecasts in its history after a personal-computer (PC) slump ravaged the chipmaker’s business, sending shares tumbling and further setting back turnaround efforts.

The company predicted a surprise loss in the current period and a sales range that missed analysts’ estimates by billions of dollars. At the low end of Intel’s projections, revenue would be the smallest quarterly total since 2010.