Intel shares set to fall most in 24 years as it struggles with turnaround
Aug 2 (Reuters) -Intel INTC.O was set to erase nearly $25 billion in market value on Friday in what would be its worst selloff since 2000 after it suspended its dividend and slashed its workforce to fund a costly turnaround for its chip-making business.
Shares of the company were down about 20% in premarket trading after Intel late on Thursday forecast quarterly revenue below estimates and said it was cutting 15% of its workforce, raising worries about its ability to catch up to Taiwan's TSMC 2330.TW and other chipmakers it has fallen behind in recent years.
The Santa Clara company was once the world's leading chipmaker, with the "Intel Inside" logo a valuable marketing feature on personal computers in the 1980s and 90s.
Part of the dot-com era's Four Horsemen - along with Cisco Systems CSCO.O, Microsoft MSFT.O and Dell DELL.N - Intel's stock market value peaked at nearly $500 billion in 2000 before slumping in that year's market selloff and never fully recovering.
It continued to dominate in hefty PC chips, but was caught off foot by the launch of Apple's AAPL.O iPhone in 2007 and other mobile devices that demanded lower power and less pricey processors.
If Friday's losses hold, Intel's market capitalization would fall to about $100 billion, equivalent to less than 5% of Nvidia's NVDA.O and about 40% of Advanced Micro Devices' AMD.O, the two PC chipmakers it heavily dominated for decades until recently.
The selloff was also set to leave Intel worth less than Applied Materials AMAT.O and Lam Research LRCX.O, companies that supply equipment for Intel's fabrication plants.
"Intel has been one of the forgotten horsemen of technology the last couple decades," Michael Schulman, chief investment officer of Running Point Capital said. "Never overtaking its year 2000 highs and struggling to get earnings back to where they were before the AI revolution."
Reporting by Noel Randewich in Oakland, California; Additional reporting by Arsheeya Bajwa in Bangalore; Editing by Mrigank Dhaniwala
免责声明: XM Group仅提供在线交易平台的执行服务和访问权限，并允许个人查看和/或使用网站或网站所提供的内容，但无意进行任何更改或扩展，也不会更改或扩展其服务和访问权限。所有访问和使用权限，将受下列条款与条例约束：(i) 条款与条例；(ii) 风险提示；以及(iii) 完整免责声明。请注意，网站所提供的所有讯息，仅限一般资讯用途。此外，XM所有在线交易平台的内容并不构成，也不能被用于任何未经授权的金融市场交易邀约和/或邀请。金融市场交易对于您的投资资本含有重大风险。
所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。
本网站上由XM和第三方供应商所提供的所有内容，包括意见、新闻、研究、分析、价格、其他资讯和第三方网站链接，皆保持不变，并作为一般市场评论所提供，而非投资性建议。所有在线交易平台所发布的资料，仅适用于教育/资讯类用途，不包含也不应被视为适用于金融、投资税或交易相关咨询和建议，或是交易价格纪录，或是任何金融商品或非应邀途径的金融相关优惠的交易邀约或邀请。请确保您已阅读并完全理解，XM非独立投资研究提示和风险提示相关资讯，更多详情请点击 这里。
