Intel falls after cut in profit forecast |
| International Herald Tribune - Mar 4, 2008 |
Intel, the world's biggest maker of semiconductors, fell as much as 2.7 percent in European trading Tuesday after a glut in flash-memory chips forced the company to cut its profit forecast.
First-quarter gross margin, the percentage of sales remaining after subtracting the cost of production, will be about 54 percent, Intel said Monday. That compares with a January prediction of about 56 percent.
Intel's joint venture with Micron Technology, which produces so-called Nand memory chips for digital cameras and music players, is hurting profit as prices in that industry fall. While demand is surging, production growth by the market leader, Samsung Electronics, and its rivals has risen faster. Micron predicted last month prices for Nand flash chips will fall as much as 50 percent in the first quarter from the last three months of 2007.
Read Full Article from International Herald Tribune
- Posted: 2008-03-04 09:50:25
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