Semiconductor Stock Sharply Lower After Earnings

Group 1 - Intel Corp's stock has dropped 8.6% to $20.70 following an adjusted second-quarter loss of 10 cents, contrasting with estimates of a 1 cent profit, despite an otherwise positive report indicating the completion of most recent layoffs [1] - The stock has struggled to surpass the $24 resistance level, while finding support near the $22 mark, and despite a projected 12% gain for 2025, it remains down 28% year-over-year [2] - Analysts are largely bearish, with 38 out of 39 brokerage firms recommending a "hold" or worse, and short interest has increased by 24% in the last two reporting periods, representing 2.9% of the stock's total float [3]