Intel Crashed 30%. Is the Stock a Sell or a Bad-News Buy?
INTCIntel(INTC) The Motley Fool·2024-08-06 17:15

Intel's situation might get worse before it gets better...Intel's (INTC -6.38%) CEO Pat Gelsinger said he was disappointed by the chipmaker's second-quarter results -- and he wasn't the only one. The market sanctioned the company's performance, bringing the stock down 30% in one trading session last week. In the earnings report, Intel fell short of analysts' expectations, predicted a weak period ahead, and announced a $10 billion cost-cutting plan that includes major job cuts.This comes as the company, whic ...