Intel is looking at a miserable fourth quarter as the PC market still fails to pick up, according a leading analyst.
Sterne Agee analyst Vijay Rakesh warned that Intel's fourth quarter won't look so hot compared to the same quarter a year ago.
Pre-holiday sales which were seen as lucrative during the "back to school" season didn't get the sort of cash that Intel was expecting.
In fact Rakesh thinks that school PC demand was virtually absent.
With higher channel inventories and "lackluster demand" this seems to suggest a flat fourth-quarter, compared to a typical seasonal bump of between 5-7 percent quarter-over-quarter.
According to ZDnet, Rekesh has been talking to suppliers and thinks that there will be a flat December holiday season for PC sales.
Rakesh predicts that the end-of-year PC growth estimates will be down from a 9.6 percent loss to a 10.7 percent loss over last year.
He does not think that Intel has made enough progress moving to mobile. Windows-powered tablets are on the most part the driving mobile force of the firm's mobile efforts, the chip maker has yet to make any meaningful share in the smartphone space.
About the only good news for Intel was a bounce with enterprise business. This falls in line with Sterne Agee's 10-15 percent datacentre growth estimate.