The chipmaker Intel reported lower earnings Wednesday -- reflecting the worldwide trend of dwindling personal computer sales.
Intel's net income fell 28 percent in the second quarter, to $2 billion.
Chief executive, Brian Krzanich told investors why in a conference call.
"Intel was slow to respond to the ultra mobile PC trend. The importance of that can be seen in the current market dynamics. The traditional PC market segment is down from our expectations at the beginning of the year while ultra mobile devices like tablets, are up." Krzanich said.
But he stressed he's more confident than ever about Intel, saying the company will leave no computing opportunity untapped.
The stock dropped four percent in after hours trading, to $23.19 a share.
Intel employs close to 17,000 people in Oregon.
This story originally appeared on Oregon Public Broadcasting.