PREVIEW-Investors brace for weak technology earnings

By Duncan Martell

SAN FRANCISCO, April 13 (Reuters) - Wall Street should brace for a round of profit warnings from U.S. technology companies this results season, as consumers and businesses rein in spending amid a weaker economy and record energy prices.

The world's largest microchip company, Intel Corp (INTC.O: Quote, Profile, Research), kicks things off for the sector on Tuesday, followed by top computer services provider IBM (IBM.N: Quote, Profile, Research) on Wednesday and Web search leader Google Inc (GOOG.O: Quote, Profile, Research) on Thursday.

Weakness in Intel and rival microprocessor maker Advanced Micro Devices Inc (AMD.N: Quote, Profile, Research) could signal slower computer sales and translate into lowered expectations for PC vendors like Hewlett-Packard Co (HPQ.N: Quote, Profile, Research) and Dell Inc (DELL.O: Quote, Profile, Research), which report quarterly results in May.

"We're hearing from the semis, which are the first thing that goes into a device, that demand is down," said Kim Caughey, senior analyst and portfolio manager at Fort Pitt Capital Group, which oversees $1.2 billion.

"That's always troubling. The year is not looking good," added Caughey, whose fund holds IBM and Dell shares.

Intel cut its first-quarter gross margin forecast in early March, citing a huge drop in some memory chips used in consumer electronics -- a trend in place for more than a year now.

Smaller rival AMD reports on Thursday, after warning that its quarterly revenue would be less than expected, though its troubles are more company specific as it loses share to Intel.

Analysts are warning investors not to expect any pat answers from tech executives on when things will improve.