Intel announced it expects to take in between $8bn and $8.2bn for its first quarter of 2004.
When reporting fourth-quarter results in January, Intel said it expected first-quarter revenue would fall between $7.9bn and $8.5bn.
Demand for PC and server processors was at the low end of normal seasonal patterns, Intel said.
The first half of the calendar year is generally slower for semiconductor companies than the second half, in which the two most important buying periods of the year occur.
Demand for Intel Architecture products has been "significantly higher" in this year's first quarter, compared with in the first quarter of 2003.
Demand for communications products, such as flash memory and the XScale handheld processors, is consistent with the level of demand Intel expected in January.
Tom Krazit writes for IDG News Service