Why Intel Stock Plunged 28% in August

Intel showed it's still a broken company.Shares of Intel (INTC -8.80%) took a dive last month primarily due to a disastrous second-quarter earnings report that included subpar results, disappointing guidance, the elimination of its dividend, and a restructuring plan that includes laying off at least 15% of its workforce.The news undermined any hope that Intel was making progress on what was already supposed to be a turnaround. Later in the month, the company lost a key director, who dismissed the company's ...