Intel Corp. shares slipped in the extended session Thursday as gross margins declined even as the chip maker topped Wall Street estimates for the quarter. Intel shares slipped 3% to $31.75 on heavy volume. Intel said its gross margin for the fourth quarter declined to 64.3% from 65.4% in the year-ago quarter. The company forecast a gross margin of 58% for the first quarter, and an adjusted one of 62%. Intel reported fourth-quarter earnings of 74 cents a share on revenue of $14.9 billion. Analysts surveyed by FactSet had forecast earnings of 63 cents a share on revenue of $14.81 billion. Intel forecast adjusted first-quarter revenue of $14.1 billion, give or take $500 million. Analysts had estimated $13.91 billion.
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