Here's How Much Traders Expect Intel Stock to Move
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Intel to lay off 22% of workforce
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Despite beating second quarter revenue expectations, the tech company faces analyst discomfort over its layoffs and possible manufacturing cancellations.
Back in April, Intel Corp.’s newly appointed Chief Executive Officer Lip-Bu Tan told investors on his inaugural earnings call that turning around the troubled chipmaker would take time.
A federal judge dismissed a lawsuit accusing Intel of defrauding shareholders by concealing problems in a business where it manufactured chips for outside customers, leading to a $32 billion one-day plunge in its market value.
Intel shares plunged Friday, a day after the chipmaker reported mixed results amid uncertainty about its ability to engineer a turnaround.
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Intel’s stock dropped 9% after the chipmaker said it would slash foundry costs in its latest attempt to turnaround its struggling business.
Intel Corporation's latest Q2 earnings have embedded several bombshell updates to its turnaround strategy. Click here to find out why INTC stock is a Hold.
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Barchart on MSNIntel Stock Is in a ‘Catch-22’ Scenario. How Should You Play INTC Here?Loop Capital initiates Intel stock at “Neutral” as the semiconductor firm is stuck in a “catch-22” situation. Wall Street at large remains bearish on INTC shares as well.
Intel (INTC) stock is on the decline after the chipmaker reported earnings. CEO Lip-Bu Tan highlighted cost-cutting efforts and former Intel CEO Pat Gelsinger's shortcomings, rather than indicating the company is working to return to being a tech innovator.