Altera warns of poor Q3 growth

Altera warns of poor Q3 growth
Richard Wilson Leading programmable logic manufacturer Altera, has warned that sales for its current third quarter will be lower than expected. The announcement sparked off a sell off in chips stocks as a nervous stock market worried about earnings for other tech firms. Altera said that third quarter revenues will be flat or slightly lower because of slow sales in the North American market. “We believe that this is a temporary situation after several quarters of very strong growth. Our year over year growth for the third quarter will approach 40 per cent, and we anticipate that we will resume solid growth in the fourth quarter,” said Altera CEO Rodney Smith.


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