The chips are down for Intel
Intel Corp on Tuesday posted a third-quarter profit that fell by more than one-third from a year earlier, as the world's biggest chipmaker felt the impact of price cuts.
Intel, which supplies the vast majority of chips that power personal computers, had a net profit of $US1.3 billion ($A1.73 billion), or 22 US cents per share, compared to $US2 billion, or 34 US cents per share, a year earlier.
The company had been expected to show a profit, excluding special items, of $US1.02 billion, or 17 US cents per share, according to the average analyst forecast on Reuters Estimates.
On that basis, Intel said it earned $US1.5 billion, or 27 US cents per share.
