Intel's stock dropped over 18% due to poor profitability, workforce reduction, dividend suspension, and lower guidance, creating a negative outlook. Despite challenges, Intel is investing in AI and foundry segments, with new product releases like the Gaudi 3 AI accelerator expected in Q3 2024. Operating margins and revenue forecasts have been lowered, but long-term investments and cost-cutting measures aim to stabilize future profitability.
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Intel is in a cash crunch and could sell pieces of its business to raise capital.
Intel NASDAQ: INTC has had a terrible 2024, to say the least. The company's shares are down 61% year-to-date, driven largely by a massive earnings miss in August.
Intel might need to rightsize its business. It's reportedly mulling a spinoff or sale of its foundry division.
Intel has struggled for some time now and could be kicked out of the Dow. Nvidia is a logical replacement as the world's largest semiconductor company.
Analysts' price targets can change often and drastically impact the implied upside for a stock. When a stock suddenly falls in value, it can look like a great buy based on its price targets.
The Dow Jones Industrial Average has evolved from an index comprised of a dozen predominantly industrial stocks in the late 19th century to one that now houses 30 diverse, multinational businesses. Semiconductor giant Intel's fall from grace makes it a good candidate to be removed from the iconic Dow.
Intel begins trimming down its business to a manageable size as it eyes selling a part of its stake in the autonomous vehicle company MobilEye.
The U.S. added 142,000 jobs in August, which missed Wall Street's forecast for 160,000. Investors are worried that the economy could be headed for recession.
Qualcomm (QCOM) shares fell following a report that the company has looked into buying segments of Intel (INTC), potentially including its PC chip design business.
Shares of MobilEye Global (MBLY) slumped Friday after reports that Intel (INTC) is considering selling off some of its stake as part of the chipmaker's effort to improve its financial position.