On the same day that Google ran a microchip-themed Doodle to commemorate the 84th birthday of its late founder Robert Noyce, Intel announced that a supply shortage due to widespread flooding in Thailand would cost the company about a billion dollars in revenue in the fourth quarter. The Associated Press reports:
Intel cut its fourth-quarter revenue outlook Monday due to massive flooding in Thailand, sending shares for the entire sector downward. Only the financial sector, dogged by renewed anxiety over the debt crisis in Europe, fell more sharply.
Intel, based in Santa Clara, Calif., now expects fourth quarter revenue of between $13.4 billion and $14 billion. It had previously forecast revenue of $14.2 billion to $15.2 billion during the key holiday quarter.
On a more positive note, Noyce really is an inspirational guy, worthy of such a sweet Google Doodle. He also happened to be Steve Jobs's idol.
This article is from the archive of our partner The Wire.