INTEL’S sales forecast disappointed investors and signalled the world’s biggest chip-maker may be losing market share to Advanced Micro Devices.

Profit-taking sent stocks modestly lower in the United States today after oil prices topped US$55 (€41.21) a barrel and a disappointing earnings update from Texas Instruments Inc cast fresh doubts on the tech sector.

Wall Street welcomed a surprisingly forthright statement on interest rates from Federal Reserve Chairman Alan Greenspan today, with investors sending stocks higher in acceptance of his tough stand on energy prices and inflation.