Intel’s stock drops 30% overnight —company sheds $39 billion in market cap

7 comments

1. More on this subject from other reputable sources:

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   – The Hill (B): [Intel to cut 15,000 jobs after ‘disappointing’ second quarter results](https://thehill.com/policy/technology/4807619-intel-to-cut-15000-jobs-after-disappointing-second-quarter-results/)
   – tomshardware.com (C): [Intel to layoff more than 15% of workforce — almost 20,000 employees — encountered Meteor Lake yield issues, suspends dividend](https://www.tomshardware.com/pc-components/cpus/intel-to-layoff-more-than-15-of-workforce-almost-20000-employees-encountered-meteor-lake-yield-issues-suspends-dividend)
   – CNN.com (C+): [Intel lays off 15% of its staff and its stock tumbles as it struggles to turn around its ailing business](https://www.cnn.com/2024/08/01/business/intel-layoffs-chips/)
   – CNBC (B): [Intel to cut 15% of workforce, reports quarterly guidance miss](https://www.cnbc.com/2024/08/01/intel-intc-q2-earnings-report-2024.html)

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2. That’s what happens when you spend a decade not innovating thinking you’re untouchable

3. Smart money collateral is now on fire 🔥

4. Dude that dropped $700k into Intel yesterday must be feeling great today. 

5. 

6. Is that their way of getting out of paying government back

7. I wonder who pulled out that had that much stock? People like us make it move fractions of a percent on our best days.