Intel is clearly in poor health, after the stories about the instability of its CPUthat are ruining the life of the company, and The dismissal planNow it's time to take a look at the stock market. The company lost almost 30% after the official announcement of this layoff plan and its financial results.
Intel layoffs: the stock market is not taking it well!
As we already told you here, the company wants to reduce a significant part of its workforce. The aim is to achieve savings, supposedly of 10 billion dollars, by reducing the workforce by 15%, which would mean the elimination of 18,000 jobs.
Added to this is the announcement of the company's financial results, which are not good. The Blues achieved sales of 12.8 billion dollars, less than expected and less year-on-year compared to 2023, while AMD has been advancing. And what is worse, the company is losing money: 1.6 billion dollars compared to the 1.5 billion dollars profit for the same period last year. In addition, no dividend will be paid this year.
In short, all this has not pleased the stock market, where the company's market capitalisation has literally plummeted. At the time of writing, the share price is $20.88, which is a drop of 28.04%. In terms of valuation, the company has seen its value fall by a total of $30 billion!
Fun FactAMD's market cap is currently much larger than its rival! Intel currently has a market cap of $94.6 billion, while AMD is worth $235.52 billion. If you had told us that a few years ago, we wouldn't have believed it. Of course, these two companies are a long way from NVIDIA, which is currently worth $2.72 billion. Yes, the price has come down.
(tags to translate)INTEL
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