Intel Still Expects Lower Capital Spending In 2002

Intel

The company, which has significantly expanded semiconductor manufacturing capacity over the last few years, disclosed the projection in its annual report filed with the Securities and Exchange Commission.

It had made the same projection in January.

Last week, Intel narrowed the range of revenue guidance it gave in January, pushing it toward the high end of the range, saying that shipments of microprocessors were following normal seasonal patterns.

The company said it now sees first-quarter sales of $6.6 billion to $6.9 billion, compared with an earlier forecast for revenue of $6.4 billion to $7.0 billion.

Intel shares closed on Tuesday at $32.99 on Nasdaq.

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