Led by Intel, Chip Makers Cut Outlook

November 13, 2008 | Source: New York Times

Intel warned on Wednesday that its sales could fall as much as 19 percent in the fourth quarter. Other major players in the chip industry, including Applied Materials and National Semiconductor, offered their own bleak outlooks.

The gloomy forecasts suggest that the technology industry is about to enter a slump that will rival or possibly exceed the dot-com bust of 2001.