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Intel Corporation’s (NASDAQ:INTC) warning has reverberated in chip stocks with heavy PC exposure on Friday. The company downgraded its guidance for the third quarter, decreasing its revenue estimate by about 7 percent to between $12.9 billion and $13.5 billion, from a range of $13.8 billion to $14.8 billion because of “weaker than expected demand in a challenging macroeconomic environment.” Intel foresees customers shrinking the supply chain inventory, along with weakness in the enterprise PC market segment, plus slumping demand in emerging markets.
Shares of Apple Inc. (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN), and Google Inc. (NASDAQ:GOOG) all reached new highs Friday, even as PC-exposed names declined on Intel’s warning. Amazon’s gains came from positive comments on its Kindle refresh as well, pointing to its potential to reinforce the company’s content ecosystem.
Zynga’s (NASDAQ:ZNGA) game-publishing endeavors remain active, as it has introduced four new third-party titles for Zynga.com, along with revealing partnerships with 9 additional game developers for Zynga Platform.
Don’t Miss: Here’s Zynga’s Attempt to Stop BLEEDING.
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