Intel cuts first-quarter revenue forecast by nearly $1 billion

(Reuters) - Intel Corp slashed its revenue forecast for the first quarter by nearly $1 billion (668 million pounds), citing lower-than-expected demand for business PCs and lower inventory levels across the PC supply chain. Intel said it expects first-quarter revenue of $12.8 billion, plus or minus $300 million. It had earlier forecast $13.7 billion, plus or minus $500 million. Analysts on average were expecting revenue of $13.70 billion, according to Thomson Reuters I/B/E/S. Intel said it cut it