Reported 2 months ago
Intel's stock price plummeted over 26% in a single day, marking its worst trading performance in 40 years, following disappointing second-quarter earnings and news of workforce reductions. The company anticipates third-quarter revenues between $12.5 billion and $13.5 billion, falling short of expectations. As part of a restructuring strategy, Intel is cutting 15% of its workforce and suspending dividend payments, all while facing stiff competition in the PC chip market and a significant overhaul to reclaim its position in the industry.
Source: YAHOO