Intel Corp. could be preparing to lay off as much as 10 percent of its work force and cut its fourth-quarter guidance for the second time, an analyst said Friday, because the economic crisis has caused computer makers to sharply curtail the amount of processors they buy for those machines.
Last month, Intel whacked more than $1 billion from its fourth-quarter revenue forecast and lowered its profit forecast because of declining demand. AMD, which has racked up more than $5 billion in losses over the past two years, has also cut its quarterly guidance. The company said revenue would come in about $400 million lighter than expected.
AMD announced last month that it was cutting 500 jobs, about 3 percent of its staff, after having already laid off 1,600 workers, replacing its chief executive and inking a deal with the Persian Gulf state of Abu Dhabi to spin off AMD's factories into a separate company to cut costs.
From Bonddad: Chip Sales DecreasingToshiba Corp the world's No. 2 maker of NAND flash memory, will halt chip production at two plants for nine days due to weak demand, in its first output break in seven years.
Let's take a look at some of the companies' stock performance for the year (YOY):1. Intel: -52.5% ($13.29 - $27.99)
2. AMD: -77.6% ($2.13 - $9.53)
3. MRVL: -68.5% ($5.76 - $18.31) Marvell
4. MXIM: -60% ($11.03 - $26.95) Maxim
5. TXN: -58% ($14.56 - $34.60) Texas Instrument
6. ADI: -55% ($16.60 - $36.35) Analog Devices
7. LLTC: -48% ($19.81 - $37.77) Linear Technology
8. NSM: -59% ($10.26 - $24.96) National Semiconductor
9. ISIL: -74% ($7.92 - $29.84) Intersil
10. SMTC: -45% ($10.16 - $18.56) Semtech
11. QCOM: -44% ($31.90 - $56.88) Qualcomm
12. MCRL: -40% ($6.55 - $10.77) Micrel
13. STM: -60% ($6.28 - $15.78) STMicroElectronics
14. LSI: -60% ($3.16 - $7.87)
15. SNDK: -77% ($9.23 - $39.63) SanDisk
16. NVDA: -80% ($7.36 - $36.4) NVIDIA
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