DMP/E+ via Getty Images The numbers just keep getting worse for Intel Corporation (NASDAQ:INTC). The giant chip company missed the AI GPU transition and is too focused on building a foundry business to catch up, despite aggressively spending on new foundries. My investment thesis remains ultra-bearish on Intel following another bad quarter and the elimination of the once-important dividend. Source: Finviz Another Major Disappointment Intel not only reported a Q2 '24 miss on both the bottom and top line, but ...

Chipmaker Intel Corp. is cutting 15% of its massive workforce — about 15,000 jobs — as it tries to turn its business around to compete with more successful rivals like Nvidia and AMD.In a memo to staff, Intel CEO Pat Gelsinger said Thursday the company plans to save $10 billion in 2025. “Simply put, we must align our cost structure with our new operating model and fundamentally change the way we operate,” he wrote in the memo published to Intel’s website. “Our revenues have not grown as expected – and we’ve ...

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Key TakeawaysIntel shares plummeted in extended trading Thursday after the company posted a wider-than-expected loss. CFO David Zinsner said gross margin headwinds tied to Intel's AI PC product and elevated costs negatively affected second-quarter results. The chipmaker said it plans to lay off 15% of its workforce as part of a $10 billion cost-savings plan. Intel (INTC) shares plunged in extended trading Thursday after the company posted a wider-than-expected loss and said it would lay off 15% of its workf ...

D-Keine Article Thesis Intel Corporation (NASDAQ:INTC) reported quarterly earnings results that looked very weak. The company continues to battle company-specific issues and cannot benefit from the ongoing AI boom in a big way. The post-earnings price slump seems justified due to the disappointing performance Intel delivered over the last couple of months. Past Coverage I have written about Intel here on Seeking Alpha in the past, most recently in early 2023 when Intel decided to cut its dividend. Back ...

Intel stock hit the skids after announcing it will slash nearly 17,000 workers and pause its dividend as part of a sweeping cost-cutting plan.  The chipmaker plans to "resize and refocus" its 116,500 workforce in an effort to save $10 billion to combat challenging trends. Intel shares fell nearly 20% in extended trading Thursday.  Ticker Security Last Change Change % INTC INTEL CORP. 29.05 -1.69 -5.50% "Clearly market conditions, some were good and some not so good, and you have to adjust the financial en ...

For the quarter ended June 2024, Intel (INTC) reported revenue of $12.83 billion, down 0.9% over the same period last year. EPS came in at $0.02, compared to $0.13 in the year-ago quarter.The reported revenue represents a surprise of -0.70% over the Zacks Consensus Estimate of $12.92 billion. With the consensus EPS estimate being $0.10, the EPS surprise was -80.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their nex ...

Intel (INTC) came out with quarterly earnings of $0.02 per share, missing the Zacks Consensus Estimate of $0.10 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -80%. A quarter ago, it was expected that this world's largest chipmaker would post earnings of $0.13 per share when it actually produced earnings of $0.18, delivering a surprise of 38.46%.Over the last four quarters, the co ...

bunhill Well, it was tempting to buy Intel Corporation (NASDAQ:INTC) just a few weeks ago when it seemed the stock was catching a bid into earnings. There was hope that they had figured things out, and a more domestic chip company would do better in this macro/geopolitical climate. T But this Q2 earnings report that was just released was a disaster. A double-line miss, a down guide for Q3 below estimates, and now completely suspending the dividend (starting in the fourth quarter) after cutting it severa ...

Intel, the chipmaker, has announced plans to cut more than 15,000 jobs as it tries to cut billions of dollars in costs and turn its business around to compete with more successful rivals.Shares in the company sank 19% as a string of leading technology stocks came under pressure on Thursday following a fresh batch of lackluster earnings that contributed to a sell-off on Wall Street.Intel said it would cut 15% of its massive workforce in a bid to “resize and refocus”, with the bulk of the layoffs taking place ...