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.

  • MeekerThanBeaker@lemmy.world
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    3 months ago

    I bought an Intel last time because I got AMD the time before that and they had issues that I can’t recall right now. Security or they had to slow it down?

    Luckily, I’m still on a 11th Gen. I guess I’m going back to AMD when I decide to upgrade again.

    • Randelung@lemmy.world
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      3 months ago

      Skylake myself, after a FX 9590 as a last ditch effort.

      I’ll never get a P/E core CPU. Windows 11 fucked with virtualization and now the scheduler somehow breaks VMWare, all because my Desktop CPU somehow needs to be as power efficient as a laptop CPU when idle cores already hardly consume power. And spoiler: Otherwise I want to use the power I bought.

      New build will be AMD, and only when the old one starts breaking. Now that I think about it, I should research if I can move BitLocker drives to a new system.

    • Dnb@lemmy.dbzer0.com
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      3 months ago

      Intel has had more security stuff that slowed it down than amd.

      Amd had some usb dropout issues but otherwise has been pretty solid for Ryzen.

      • stephen01king@lemmy.zip
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        3 months ago

        Yeah, my PC still have the occasional USB issues, and if you go with laptop AMD chips now, you’d have to also deal with Mediatek wifi cards since AMD has an exclusivity deal with them.