Intel foresees Q2 sales decline as PC market shrinks

By Noel Randewich SAN FRANCISCO (Reuters) - Intel Corp said its current-quarter revenue would decline as much as 8 percent and trimmed its 2013 capital spending plans, as personal computer sales drop due to the growing popularity of tablets and smartphones. Shares in the world's largest chip maker rallied as much as 3 percent after hours but quickly gave up the gains. The stock had been battered over the past week after researcher IDC revealed that PC sales notched a record quarterly decline in the first quarter. ...

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