Intel Narrows Sales Forecast

Chip maker Intel Corp. tightened the range of its first-quarter sales forecast, saying demand for PC processors remains stable but the communications chip business is weak. The Santa Clara, Calif., company said it expects revenue to be $6.6 billion to $6.9 billion--within the company’s previous guidance of $6.4 billion to $7billion for the period. Analysts are expecting sales of $6.77 billion for the first quarter, according to a survey by Thomson Financial/First Call. Intel did not provide any earnings estimates.