Intel (NASDAQ:INTC) announced that it expects fourth-quarter revenue of $13.6 billion, plus or minus $500 million, below forecasts of $13.74 billion. The company also expects fourth-quarter gross margins of 57 percent to 58 percent on a non-GAAP basis, below average expected gross margins of about 62 percent.
Intel, and rival Advanced Micro Devices (NYSE:AMD) had warned of weak PC demand due to the slow global economy, as well as a shift by consumers towards tablets, such as Apple's (NASDAQ:AAPL) iPad.
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