By Dylan McGrath, EETimes
April 26, 2019
SAN FRANCISCO — Intel's first quarter sales and second quarter forecast fell short of Wall Street's expectations, while company executives reiterated plans to launch its first 10-nm products late this year.
Intel (Santa Clara, Calif.) also cut its sales target for 2019 after customers in China and elsewhere reduced orders. Intel said it now expects sales of approximately $69 billion for the year, down from a forecast of $71.5 billion it gave in January. Revenue of $69 billion would represent a 3% decrease from 2018.
"We see customers becoming more cautious in their buying patterns, with the most acute deceleration happening in China," said George Davis, Intel's newly appointed chief financial officer, in a conference call with analysts following the first quarter report.
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