Intel (NASDAQ:INTC) became the latest chipmaker to lower its fourth quarter expectations today.
The company said hard disk drive supply shortages are behind its lowered forecast.
Intel now expects fourth quarter revenue of $13.4 billion to $14 million, compared to a prior forecast for revenue of $14.2 billion to $15.2 billion.
Intel said that while sales of personal computers are expected to be up sequentially in the fourth quarter, the worldwide PC supply chain is reducing inventories and microprocessor purchases as a result of hard disk drive supply shortages, which Intel expects to continue into the first quarter.
Although Intel did not detail where the disk drive shortages are originating from, disk driver makers like Western Digital (NASDAQ:WDC) and Seagate (NASDAQ:STX) have discussed various levels of supply shortages in recent weeks due to flooding in Thailand.
Last week, both Texas Instruments (NASDAQ:TXN) and Altera (NASDAQ:ALTR) cut their fourth quarter outlooks on weaker demand in the markets they supply chips to.
Intel shares are trading lower following the reduction in its guidance.
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