Technology

59389 readers

3756 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

1091

Intel's stock drops 30% overnight —company sheds $39 billion in market cap | As of now, Intel's market value is a fraction of Nvidia's worth and less than half of AMD's (www.tomshardware.com)

submitted 3 months ago by ForgottenFlux@lemmy.world to c/technology@lemmy.world

275 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] gcheliotis@lemmy.world 61 points 3 months ago (8 children)

And to think I grew up at a time when Intel reigned supreme. My my.

[–] ByteOnBikes@slrpnk.net 16 points 3 months ago (3 children)

I grew up in an era where IBM reign supreme.

A decade ago, it dipped to 1990s level but now it's pretty up there in value again.

I don't understand tech company stocks at all.

[–] OsrsNeedsF2P@lemmy.ml 15 points 3 months ago (1 children)

If you consider inflation, it makes more sense. IBM is nowhere near it was before

[–] Emmie@lemm.ee 2 points 3 months ago* (last edited 3 months ago)

Yes, it seems like people always forget about inflation. Okay yes your one milion will be two millions in 14 years at 5% yearly but it will be worth only 1.25 million corrected for inflation so you just made 25% over 14 years. And that’s for just 3% year to year inflation.

So companies must at least grow by inflation rate to stay afloat.

Inflation is a word that haunts me to be honest. It is 8% here right now. Which means value of money will be halved in 9 years

load more comments (1 replies)

load more comments (5 replies)