UPDATE 3-Intel shares drop, three-year outlook seen lagging rivals

Intel Corp shares declined 2.5 percent on Wednesday after executives forecast modest profit growth over the next three years, signaling it is likely to lag big rivals as the once-dominant chipmaker catches up in technology.Intel once dominated the most important chip market with more than 90 percent share for the brains of personal computers.As PC sales have stagnated, it has expanded into data center processors, memory and networking chips.