Technology

59656 readers

2878 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

1094

Intel's stock drops 30% overnight —company sheds $39 billion in market cap | As of now, Intel's market value is a fraction of Nvidia's worth and less than half of AMD's (www.tomshardware.com)

submitted 3 months ago by ForgottenFlux@lemmy.world to c/technology@lemmy.world

275 comments fedilink hide all child comments

Intel's stock dropped around 30% overnight, shaving some $39 billion from the company's market capitalization since rumors of a pending layoff first emerged. The devastating results come after the chip giant reported a loss for the second quarter, complained about yield issues with the Meteor Lake CPU, provided a modest business outlook for the next few quarters, and announced plans to lay off 15,000 people worldwide.

When the NYSE closed on July 31, Intel's market capitalization was $130.86 billion. Then, a report about Intel's massive layoffs was published, and the company's market capitalization dropped sharply to $123.96 billion on August 1. Following Intel's financial report yesterday, the company's capitalization dropped to $91.86 billion. Essentially, Intel has lost half of its capitalization since January. As of now, Intel's market value is a fraction of Nvidia's worth and less than half of AMD's.

As Intel's actions look rather desperate, analysts believe that Intel's challenges are existential. "Intel's issues are now approaching the existential," Stacy Rasgon, an analyst with Bernstein, told Reuters.

you are viewing a single comment's thread
view the rest of the comments

[–] PanArab@lemm.ee 4 points 3 months ago* (last edited 3 months ago) (1 children)

They didn’t slow China. You are redefining success after the fact, but the Internet remembers.

October 2022

More specifically, the restrictions aim to cut off China’s access to and ability to make advanced chips under 16nm or 14nm, DRAM memory chips of 18nm or more advanced, and NAND flash memory chips of 128 layers or more. Those technologies are essential to supercomputing and artificial intelligence.

September 2023

Huawei's New Mystery 7nm Chip from Chinese Fab Defies US Sanctions

February 2024

China chipmaker SMIC on track to produce sanctions-busting 5nm processors for Huawei this year: Report

[–] Tja@programming.dev 0 points 3 months ago (1 children)

Again, sanctions were on chips and import lithography. They have lots of trouble importing Nvidia chips, or at least more cost. Of course the country where a lot of chips are made will continue making chips. But while Taiwan was putting 3nm chips in phones a year ago, China is producing 5nm headlines, chips on mass scale yet to be seen.

What did people expect, China to go back to the stone age?

[–] PanArab@lemm.ee 4 points 3 months ago* (last edited 3 months ago) (1 children)

Intel doesn’t even make 5nm chips. SMIC is making 5nm chips less than 2 years after the sanctions that were meant to stop it at 14nm.

You can spin this all you want.

[–] Tja@programming.dev -1 points 3 months ago (1 children)

Intel? The company that's been failing for 5 years and lost 30% of it value in one day? That Intel?

Ni hao, comrade.

[–] PanArab@lemm.ee 4 points 3 months ago* (last edited 3 months ago) (1 children)

The one that absconded with taxpayers' money, yes.

[–] Tja@programming.dev 1 points 3 months ago

That's a great reference for Chinese manufacturers then.