Broadcom cuts forecast for fourth-quarter sales
Times Wire Services
Broadcom Corp., the Irvine maker of chips for phones and consumer electronics, reduced its fourth-quarter sales forecast to $1.05 billion to $1.1 billion, down from a previous projection of $1.17 billion to $1.24 billion.
The company, one of a number of chip makers to restate projections for the current quarter, said the recession is crimping demand for electronics, forcing customers to cancel or delay orders.
Before the revision was announced, shares had gained 52 cents to close at $15.46. After hours, the stock fell as much as 36 cents.
