Reported about 20 hours ago
Intel CEO Pat Gelsinger's abrupt removal has cast doubt on the company's turnaround strategy, raising concerns among investors, especially after Intel shares plummeted over 50% in 2023 amid intensified competition in the chip market. Gelsinger's efforts to revamp the struggling chipmaker met with challenges, and while the news of his exit initially boosted shares, they ultimately closed down, reflecting Wall Street's diminishing confidence in Intel's potential recovery.
Source: YAHOO