Intel stock price – why is it falling?
Stock market reacts to disappointing outlook
Intel shares plunged over 20% in pre-market trading on Thursday, following the company’s announcement of drastic cost-cutting measures and disappointing earnings forecast. The steep decline reflects growing concerns about the chipmaker’s ability to navigate challenges in the semiconductor industry and execute its turnaround plan.
Earnings fall short of expectations
For the second quarter (Q2), Intel reported revenue of $12.8 billion, a 1% decrease year-over-year and below Wall Street’s expectations of $12.9 billion. The company’s pro forma earnings came in at 2 cents per share, down from 13 cents the previous year and significantly lower than the 10 cents analysts had…
