Technology

58076 readers

3062 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

1093

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 1 month ago by ForgottenFlux@lemmy.world to c/technology@lemmy.world

278 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

[–] mrmanager 26 points 1 month ago (2 children)

Apple likes to control the entire ecosystem, and wanted to make their own processors to make them more efficient and produce less heat. They succeeded too, the M2 and M3 chips are incredible.

So I think they would have ditched anyone, but Intel probably also made it easier by being so bad. :)

[–] Zetta@mander.xyz 20 points 1 month ago

You are 200% correct, apple didn't ditch Intel because Intel, apple did it because apple.

[–] forgotmylastusername@lemmy.ml 9 points 1 month ago

more efficient and produce less heat

Which was impossible to do with x86 space heater. Maybe if Intel hadn't sat idle and actually produced more efficient design. We could be reading about Apples own spin of x86 instead of ARM.