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twitterTech bellwether optimistic, but lowers estimate
Monday, March 8, 2004 | 9:19 a.m.
SAN FRANCISCO -- Intel Corp. narrowed its first-quarter revenue estimate, saying its microprocessor business performed at the low end of seasonal patterns because of an oversupply in Asia.
At the same time, executives last week stressed that global corporate technology spending continues to improve, albeit gradually.
Intel, the world's largest maker of semiconductors, said it expected revenue in the first quarter to be $8 billion to $8.2 billion, compared with its January forecast of $7.9 billion to $8.5 billion.
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