Intel narrows revenue forecast

The world's largest chip maker Intel has narrowed its revenue forecast for the first quarter of 2004, disappointing the market.

Last night the company said revenue for the three month period would be between $8bn (€6.5bn) and $8.2bn (€6.7bn), compared with a previous forecast of $7.9bn (€6.4bn) to $8.5bn (€6.9bn).

Intel said demand for its products is consistent with the lower end of normal seasonal patterns.

The company, which employs 3,200 staff in Leixlip, Dublin left its margin forecast for the quarter unchanged at 60%.