January 30, 2023: -On Friday, Intel shares continued to decrease, dropping 10% in premarket trading, following the group’s dismal quarterly and full-year results.
The chipmaker’s tepid quarterly digits, with a 32% yearly revenue drop and a net loss of nearly $664 million for the fourth quarter of 2022, shocked analysts and investors.
Intel’s troubles, including a surfeit of chips and cutting demand for factories pressing on its border, are unlikely to abate soon, with the group guiding to an altered net loss of 15 cents per share for the upcoming quarter. Analysts did not comment, slashing the price targets almost all over the board.
“No words can show or explain the historic collapse of Intel, with management which attempts to blame a worst-ever PC inventory digestion dynamic and macro/China/enterprise to more than 20% q/q drop in sales,” Rosenblatt analyst Hans Mosesmann stated on a Thursday. Rosenblatt also maintained its sell prices for Intel and lowered its price target from $20 to $17.
Intel shares decreased almost 11% before the opening Friday.
It’s a huge test for Intel CEO Pat Gelsinger, who is taking the top job at the 54-year-old chip company in 2021.
Factors above Intel’s control have contributed to both the inventory and production issues, with a slowing PC market pressuring Intel’s margin and pushing retailers to “correct” their inventories, Gelsinger said in a call with critics.
“While we know this dynamic will rebound, predicting when is difficult,” the CEO told analysts. Intel’s stock is down around 42% from its 52-week high.
Corporate leaders often navigate turbulent waters where failure is not just a possibility but an inevitable part of the journey …
Corporate leaders play a pivotal role in shaping organizational cultures that embrace diversity and foster inclusivity. How can these …
Corporate leaders occupy a unique vantage point in the business world, offering insights and guidance shaped by their …
Corporate leaders today stand at the nexus of unprecedented technological evolution, where digital transformation reshapes industries and redefines …
Corporate leaders stand at the helm of their organizations, often tasked with making decisions that can steer their companies toward …
Corporate leaders are often tested by crises that threaten the very foundation of their organizations. How do these leaders navigate turbulent …
Corporate leaders often navigate turbulent waters where failure is not just a possibility but an inevitable part of the journey …
Shares of Lululemon Athletica Inc. experienced a significant surge after the company reported strong quarterly earnings driven by robust international …
Systems thinking is an approach that focuses on understanding how different parts of a system interact and influence one another within a whole. It is a holistic framework considering interrelationships and patterns rather than static snapshots. By expanding perspectives, systems thinking clarifies complex situations and can spur innovation.
A definite ‘NO’ to the question if struggling families had child care asked by a group of committed volunteers in the San Fernando Valley in 1974, urged the volunteers to look for a way to support families struggling to find quality child care, development, and education services for their families. That year, the San Fernando Valley Child Care Consortium and the Mayor’s Child Care and Junior Task Force proposed the first child care resource center in the San Fernando Valley. Doris McLain was elected chairperson as Mayor Bradley accepted the proposal and gave the newly founded Child Care Resource Center (CCRC) space in Van Nuys City Hall Center. CCRC began 45 years to help working moms find child care.
Leave us a message
Subscribe
Fill the form our team will contact you
Advertise with us
Fill the form our team will contact you
