Intel shares dropped 11.2 per cent on Thursday after the US chipmaker gave a downbeat revenue outlook linked to issues in the launch of the new manufacturing technology that is critical to its turnaround effort.
The Santa Clara, California-based company said it expected between $11.7bn and $12.7bn in revenue for the quarter ending in March, undershooting Wall Street expectations of $12.6bn.
Chief executive Lip-Bu Tan said he was “disappointed that we are not able to fully meet the demand in our markets”.
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