Intel shares drop after 2014 forecast

November 22, 2013 by The Associated Press

Intel Corp. shares are dropping on the chipmaker's disappointing forecast for 2014.

The company, which has been struggling with the from weak PC sales, said Thursday at an analyst day that it is trying to reposition itself to sell products for a broad range of devices. But it expects its revenue for 2014 will be nearly unchanged from this year.

Based on Intel's revenue for the first nine months of the year and its for the fourth quarter, it will generate of roughly $52.6 billion in 2013. Analysts polled by FactSet had forecast sales of $53.65 billion for 2014.

Intel's stock is off 5.2 percent to $23.91 Friday afternoon. The Santa Clara, Calif.-based company's shares had gained 22 percent in 2013.

Explore further: Intel 4Q profit down, beats Street (Update)

Related Stories

Intel 4Q profit down, beats Street (Update)

January 17, 2013

Intel Corp., the world's largest chipmaker, on Thursday said its fourth-quarter net income fell 27 percent from the previous year, as PC sales continued to weaken.

Intel cuts sales outlook as PC sales slump

July 17, 2013

(AP)—Intel Corp., the world's largest maker of chips for PCs, put a brave face on the decline of the global PC sales earlier this year, saying it expected its own sales to grow. Now, it's backtracking, saying sales will ...

Texas Instruments 3Q profit drops, outlook weak

October 21, 2013

Chipmaker Texas Instruments Inc. said Monday that its net income fell 20 percent in the third quarter. Its outlook for the current period was worse than analysts expected, and shares slipped.

Pandora posts 3Q loss, revenue up 50 percent

November 21, 2013

Shares of Pandora Media Inc. are dropping after the Internet radio leader's outlook for the three months through January was mostly short of Wall Street's forecast.

Recommended for you

Internet giants race to faster mobile news apps

October 4, 2015

US tech giants are turning to the news in their competition for mobile users, developing new, faster ways to deliver content, but the benefits for struggling media outlets remain unclear.

Radio frequency 'harvesting' tech unveiled in UK

September 30, 2015

An energy harvesting technology that its developers say will be able to turn ambient radio frequency waves into usable electricity to charge low power devices was unveiled in London on Wednesday.

Professors say US has fallen behind on offshore wind power

September 29, 2015

University of Delaware faculty from the College of Earth, Ocean, and Environment (CEOE), the College of Engineering and the Alfred Lerner School of Business and Economics say that the U.S. has fallen behind in offshore wind ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.