Intel suffers one of its worst days in 40 years as stock plunges 26%, loses $30M in market value after earnings miss

Intel's stock price nosedived more than 25% on Friday trading, one its worst trading days in 40 years. The company lost roughly $30 billion in market value after it gave a disappointing forecast and said it would cut 15% of its workforce, deepening worries about its ability to catch up with Taiwan's TSMC and other chipmakers. "Intel's issues are now approaching the existential in our view," Bernstein analyst Stacy Rasgon said. 4 Intel shares plunged nearly 30% on Friday after it announced mass layoffs and d ...