Intel Corp. (NASDAQ:INTC) reported that its 3Q Sales would be less than earlier predicted, mentioning lower than predicted demand in a challenging macroeconomic scenario.
The chip-manufacturer now anticipates sales to be $13.2 billion, plus or minus $300 million, in contrast with its earlier prediction of sales around $13.8 billion to $14.8 billion.
Need for semiconductors have been unstable in the previous few quarters among global economic chaos, lower consumer expenses and lack of hard-disk drives after flooding in Thailand.
Intel has mainly avoided the impact from such sluggishness, but wider economic concerns have tangled the Silicon Valley semiconductor giant.
Its competitors include Advanced Micro Devices, Inc. (NYSE:AMD) that slipped -5.74% to $3.45 with the total traded volume of 30.90 million shares and Texas Instruments Incorporated (NASDAQ:TXN) that dropped -1.29% to $29.18 with the total traded volume of 7.90 million shares.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Other Technology stocks with bullish trend include Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE:TSM) up +0.69% to $14.51, Frontier Communications Corp (NASDAQ:FTR) down -2.05% to $4.55 and MetroPCS Communications Inc (NYSE:PCS) down -0.89% to $9.97.
Intel Corporation (NASDAQ:INTC) stock reports on Sep 07, 2012 decreased -3.61% to the trading price of $24.19. Its fifty two week range is $19.52-$29.27. The total market capitalization remained $121.07 billion.
The overall volume in the current trading session is 77.30 million shares. In its share capital INTC has 5.00 billion outstanding shares among them 5.00 billion shares have been floated in market exchange. INTC stock institutional ownership remained 63.27% while insider ownership included 0.05%.
INTC is ahead its 52 week low with +27.29% and lagging behind from its 52 week high price with -17.11%. INTC last month stock price volatility remained 1.68%. The stock price of INTC is moving down from its 20 days moving average with -5.96% and remote negatively from 50 days moving average with -6.19%.
INTC current year earnings per share experienced an addition with 18.84% while its current quarter performance remained -2.37%. Company’s beta coefficient included 1.08. Beta factors measures the amount of market risk associated with market trade.
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