Dell cuts full-year revenue forecast on PC chip shortage

Dell Technologies cut its full-year revenue forecast on Tuesday as its PC business grapples with a shortage of chips from Intel, sending its shares down nearly 5% in extended trading.

Dell is the third-biggest PC maker after China’s Lenovo and HP, with the business accounting for nearly half of its total revenue.

“Intel CPU shortages have worsened qtr-over-qtr, impacting our commercial PC and premium consumer PC Q4 forecasted shipments,” Chief Operating Officer Jeffrey Clarke said on a post-earnings call with analysts.

Intel said last month that demand for its processors used in PCs was outstripping its ability to add capacity, prompting it to rely on contract…