SAN FRANCISCO As expected, Intel Corp. trimmed its 2006 capital expenditure outlook, saying the company now expects to spend between $5.7 billion and $5.9 billion.
Intel (Santa Clara, Calif.) had originally said in January it expected capital spending to account for roughly $6.9 billion in 2006.
The world's No. 1 chip maker and perennial leader in semiconductor capital spending is likely to finish second to Samsung Electronics Co. Ltd. in that department this year. Samsung Monday said it would raise its semiconductor memory capital spending by more than $1 billion from original estimates and would likely spend about $5.9 billion in 2006.
Intel said in September it would reduce its capital spending for the year. The company at that time announced the reduction of 10,500 jobs by mid-2007.
Also Tuesday, Intel issued its third quarter earnings announcement, posting sequential increases but year-to-year declines in both revenue and net income.