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November 9, 2009

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Intel on target, Motorola cutting more jobs

Friday, Sept. 7, 2001 | 10:55 a.m.

SAN FRANCISCO -- Intel Corp. said Thursday that its sales would remain on target for the third quarter, signaling that the technology industry continues to bump along the bottom of its sharpest-ever decline.

Two months into the quarter, which ends Sept. 29, the world's largest chip maker said it expected to report revenues "slightly below the midpoint" of its earlier forecast, made in July, of $6.2 billion to $6.8 billion.

Separately, investors in semiconductor stocks received mixed signals Thursday from two of Intel's competitors. National Semiconductor Corp. said its customers placed more orders last quarter, but Motorola Inc. said it would cut 2,000 jobs amid another revenue shortfall.

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