Intel's stock just had a meltdown, slumping 28% in one day! What's brewing in the chip world? Let's break it down!
In an unprecedented turn of events, Intel's shares plummeted by a staggering 28%, marking what could potentially be the largest single-day loss in the company's history. On a day that will likely be etched in both Wall Street and Silicon Valley history, Intel is projected to lose a whopping $35 billion in market value. This severe financial blow follows the announcement of an unexpected suspension of dividends and an aggressive downsizing strategy, which will unfortunately see 15,000 employees out of work. It seems like the chipmaker is scrambling to fix its turnaround plans as analysts warn of an 'existential' crisis looming over the company.
This dramatic decline has not only impacted Intel but also sent shockwaves through the global market, pulling down other major Asian players like Samsung and TSMC. The tech sector has taken a hit, with investors worried that Intel's issues could indicate wider troubles in the semiconductor industry. The company's recent financial results paint a grim picture, showing a $1.6 billion net loss in the second quarter alone, causing its shares to tumble by more than 26% during the trading session. As expectations for future revenues crash lower than anticipated, premarket trading shows no signs of recovery either, with shares down around 20%.
To compound Intel's struggles, the bond market is reacting similarly; investors are offloading Intel's bonds while spreads have blown out by an alarming 20 basis points. This shows just how much confidence has eroded among investors as the tech giant is embroiled in what appears to be a vicious cycle of rolling back on expenditures and cutting workforce. With the company’s total employee count near 124,800 by last year-end, these layoffs could add further strain not only to affected workers but also to the overall economy that’s still reeling from other job losses in the tech sector.
As Intel tries to navigate these turbulent waters, one has to wonder: can they turn things around? The fate of the company indicates a significant shift in the tech landscape and raises bigger questions about investment strategies going forward. For an interesting tidbit, did you know that despite these setbacks, Intel is still a leading player in the semiconductor market, known for its chips powering a multitude of devices? Also, Intel’s historical highs saw the stock soar back in the late 1990s, making it one of the most valuable companies globally, a far cry from today's circumstances. Can they redefine their legacy, or will they succumb to the volatile tides of the tech industry?
Intel was set to erase about $35 billion in stock market value on Friday in potentially its worst selloff ever after it suspended dividend and slashed ...
Intel shares cratered on Friday, dragging down Asian stocks including Samsung and TSMC as well as other chipmakers.
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Intel Corp reported a $1.6 billion net loss for the April to June quarter results of calendar year 2024. The chipmaker's shares fell more than 26 per cent, ...
Shares of the company were down about 20 per cent in premarket trading after Intel late forecast quarterly revenue below estimates.
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Intel reported having 124800 employees at the end of last year, meaning the layoffs could hit about 18000 positions.
Shares in the company fall as much as 20%, contributing to a sharp fall in global stock markets.
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Intel Shares: इंटेल के शेयर शुक्रवार को 28 फीसदी लुढ़क गए. कंपनी ने एक दिन पहले लगभग 17 हजार लोगों को निकालने का ऐलान किया था.
चिप कंपनी Intel ने का कैलेंडर वर्ष 2024 की अप्रैल-जून तिमाही में शुद्ध घाटा (net loss) 1.6 अरब डॉलर (161 करोड़ डॉलर) हो गया है।
Intel News: चिप कंपनी इंटेल के शेयरों में शुक्रवार को 50 साल की सबसे बड़ी बिकवाली दिखी और यह टूटकर 10 साल के निचले स्तर पर आ गया।
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