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Intel Is Preparing for a Painful Turnaround

Intel Is Preparing for a Painful Turnaround

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Chipmaker Intel Corp. ( INTC , Financial) was able to surpass Wall Street’s earnings estimates for the third quarter, but disappointed investors with its outlook for the coming quarter. Executives of the Santa Clara, California-based company said its profitability will suffer over the next several years as it increases spending dramatically to improve the technology used in the chip fabrication process, news that was not music to the ears of investors.

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