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Intel Stock Sinks after Third-Quarter Sales Warning.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, September, 2000 by Sickinger, Ted
Sep. 22--Get ready for a wild ride on the technology-laden Nasdaq Stock Market.
Confirming speculation that sales of personal computers were slower than expected, Intel said Thursday that third-quarter sales will fall short of its forecasts as a result of sluggish European demand.
The warning from the world's largest chip-maker, a technology industry bellwether, sent Intel shares plunging 20 percent in after-hours trading and dragged down other computer-related stocks, including Oregon semiconductor-sector companies such as Radisys, Electro Scientific Industries and Merix. Intel, based in Santa Clara, Calif., has its biggest base of operations in Oregon.
"Intel got ripped. In fact, everything on my screen is red," Mark Corcoran, an analyst...
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