Intel Dives, Drags Tech Sector Lower (INTC, QQQ, XLK, HPQ)

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 Intel dives on lower sales outlook and drags tech sector lower

Intel (NASDAQ:INTC) says it is suffering from a shortage of hard disk drives and so cut its sales forecasts which then dragged the entire technology sector (NYSEARCA:QQQ) (NYSEARCA:XLK) lower to start the week. Intel Corp. cut its sales outlook on Monday due to the hard disk drive shortage.  Sales forecasts dropped by nearly $1 Billion for Q4 from previous forecasts.

Hewlett Packard (NYSE:HPQ) and other major PC players have been affected, as well, by the flooding in Thailand which has hampered worldwide hard disc production.

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