Intel Lowers Gross Profit Forecast for First Quarter

Intel Lowers Gross Profit Forecast for First Quarter
The Intel Corporation, the semiconductor maker, lowered its profit forecast for its first quarter, blaming a steep drop in prices for memory chips for the shortfall.

Intel tumbles as technology sector loses ground

SAN FRANCISCO (MarketWatch) - Technology stocks staggered into the red Tuesday morning as shares of Intel Corp. fell more than 1.6% after the chip giant lowered its gross margin outlook. The Nasdaq opened trading down 0.6% while the Morgan Stanley High-Tech Index was off 0.7% and the Philadelphia Semiconductor Index was flat. The broader market also declined with the Dow Industrial Average falling more than 90 points after the opening bell.

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