Intel Faces Major Setbacks with Stock Plunge and Restructuring
The semiconductor giant's shares hit a decade low following disappointing earnings and significant cost-cutting measures.
- Intel's stock dropped 26%, reaching its lowest price since 2013 after a poor earnings report.
- The company announced a $10 billion cost-reduction plan, including a 15% workforce cut and suspended dividends.
- Intel's financial struggles impacted the broader semiconductor industry, affecting companies like TSMC and Samsung.
- The postponement of the Intel Innovation conference to 2025 added to investor concerns.
- Analysts downgraded Intel, citing competitive pressures and strategic challenges.
Benzinga 