(Bloomberg) — Intel Corp. experienced a significant drop in premarket trading following a disappointing forecast on Thursday, raising concerns about the company’s ability to make a comeback.
Intel’s first-quarter sales and profit projections fell short of Wall Street estimates, causing worry among analysts. The company’s CEO, Pat Gelsinger, still faces challenges in restoring Intel’s former dominance, especially with weakening demand for data center chips.
In addition to the decline in data center chip demand, Intel is also dealing with a slowdown in programmable chips and components for self-driving vehicles. Its semiconductor business for other companies has yet to gain traction.
Intel’s shares plummeted over 12% in premarket trading, signaling investor unease about the company’s future prospects.
2024-01-26 04:05:20
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