Dell cuts full-year revenue forecast on PC chip shortage

CALIFORNIA: Dell Technologies Inc cut its full-year revenue forecast on Tuesday as its PC business grapples with a shortage of chips from Intel Corp, sending its shares down nearly 5 per cent in extended trading. Dell is the third-biggest PC maker after China’s Lenovo Group Ltd and HP Inc, with the business accounting for nearly half of its total revenue. “Intel CPU shortages have worsened qtr-over-qtr, impacting our commercial PC and premium consumer PC Q4 forecasted shipments,” Chief Operating Officer Jeffrey Clarke said on a post-earnings call with analysts. Intel said last month that demand for its processors used in PCs was outstripping its ability to add capacity, prompting it to rely on contract manufacturers to ease shortage. — Reuters