Intel shares drop after 2014 forecast

Nov 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: Silicon Valley shuttle drivers vote to unionize

1 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

Pandora posts 3Q loss, revenue up 50 percent

Nov 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.

Texas Instruments 3Q profit drops, outlook weak

Oct 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.

Intel cuts sales outlook as PC sales slump

Jul 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 ...

Intel 4Q profit down, beats Street (Update)

Jan 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.

Recommended for you

Japan's NTT to buy German data centre operator

19 hours ago

Japanese telecom giant NTT Communications is looking to acquire German data centre operator e-shelter, as it seeks to cash in on growing demand in Europe, a newspaper reported Saturday.

Google hits back at rivals with futuristic HQ plan

Feb 27, 2015

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Ericsson sues Apple over patent violations

Feb 27, 2015

Swedish telecoms group Ericsson announced Friday a lawsuit against Apple claiming that the US tech giant continued to use its technology in iPhones and other wireless devices after refusing to renew a licencing ...

Stock market shrugs off net neutrality vote

Feb 27, 2015

(AP)—The stock market largely shrugged off the Federal Communications Commission's vote to impose tougher rules on broadband providers like Comcast, Verizon and AT&T to prevent them from creating paid fast lanes for the ...

User comments : 0

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.