by Calculated Risk on 11/12/2008 05:17:00 PM

Press Release: Intel's Fourth-Quarter Business Below Expectations

The company now expects fourth-quarter revenue to be $9 billion, plus or minus $300 million, lower than the previous expectation of between $10.1 billion and $10.9 billion. Revenue is being affected by significantly weaker than expected demand in all geographies and market segments. In addition, the PC supply chain is aggressively reducing component inventories.

That is a huge cut in guidance.