Intel stock tumbles after brutal results
Publishing timestamp: 2023-01-27 10:42:13
Summary
Intel shares fell 10% after the company reported a 32% year-over-year decline in revenue and a net loss of $644 million for the fourth quarter of 2022. Analysts have cut price targets and expressed shock at the company's performance. Intel CEO Pat Gelsinger has attributed the issues to slowing PC market and inventory corrections. The stock is down 42% from its 52-week high.
Sentiment: NEGATIVE
Tickers: INTC,
Keywords: earnings, semiconductor device manufacturing, technology, pat gelsinger, intel corp, china, business news,
Source: https://www.cnbc.com/2023/01/27/intel-stock-tumbles-after-brutal-quarter-full-year-results.html