Intel, other chipmakers suffer on PC sales fears in US

SAN FRANCISCO: Shares of chipmakers Intel Corp, AMD Inc. and nVidia Corp dropped yesterday as analysts said demand for computers looked shaky heading into the all-important back-to-school season in the United States.

The stocks tumbled as J.P. Morgan analyst Christopher Danely warned investors that PC orders are “falling off a cliff.” Barclays Capital’s Tim Luke told clients that his latest checks reveal that third-quarter PC sales “have continued to remain subdued and Intel and AMD seasonal sales guidance may prove bold.”