The 10% drop in Intel shares at the New York Stock Exchange open reflects the surprise and disappointment. The American semiconductor giant’s second-quarter revenue fell 22% year-on-year to $15.3 billion, its margin fell 20 points, and the group posted a $500 million loss for the first time in more than a decade. This time last year, its net profit exceeded $5 billion.
After a record 2021 driven by very strong demand for components, Intel says it has fallen victim to a downturn.sudden and rapid economic activity“.
Some of our largest customers are reducing their inventory at a rate not seen in a decade
Pat Gelsinger, CEO of Intel
The year 2022 was really brutally difficult for the American. Demand for PC manufacturers has suffered a serious setback. “Some of our largest customers are reducing inventory at a rate not seen in a decadeIntel CEO Pat Gelsinger explains. Global sales fell 12 to 15% in the second quarter, according to companies…
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.