Compaq Computer Corporation last night warned that its earnings and revenues in the fourth quarter would come in below market expectations in response to wavering consumer sentiment.
Fourth quarter sales are expected to be 8% to 10% below expectations but 7% better than the same quarter last year.
"While we had a good start to the fourth quarter, it is now clear that market confidence has wavered and that we will be affected by the general softness in US consumer, small and medium business and dot com markets," said Compaq chairman Michael Capellas.
Compaq's announcement follows similar warnings from several of its smaller competitors including Gateway, Apple Computer and Hewlett-Packard.
