this post was submitted on 02 Aug 2024
1095 points (99.2% liked)

Technology

59207 readers
4075 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
L3s
[email protected]
[email protected]
L4s
enu
1095
Intel's stock drops 30% overnight —company sheds $39 billion in market cap | As of now, Intel's market value is a fraction of Nvidia's worth and less than half of AMD's (www.tomshardware.com)
submitted 3 months ago by ForgottenFlux to c/technology
275 comments fedilink hide all child comments
 

Intel's stock dropped around 30% overnight, shaving some $39 billion from the company's market capitalization since rumors of a pending layoff first emerged. The devastating results come after the chip giant reported a loss for the second quarter, complained about yield issues with the Meteor Lake CPU, provided a modest business outlook for the next few quarters, and announced plans to lay off 15,000 people worldwide.

When the NYSE closed on July 31, Intel's market capitalization was $130.86 billion. Then, a report about Intel's massive layoffs was published, and the company's market capitalization dropped sharply to $123.96 billion on August 1. Following Intel's financial report yesterday, the company's capitalization dropped to $91.86 billion. Essentially, Intel has lost half of its capitalization since January. As of now, Intel's market value is a fraction of Nvidia's worth and less than half of AMD's.

As Intel's actions look rather desperate, analysts believe that Intel's challenges are existential. "Intel's issues are now approaching the existential," Stacy Rasgon, an analyst with Bernstein, told Reuters.

you are viewing a single comment's thread
view the rest of the comments
[–] captainlezbian 80 points 3 months ago (3 children)

The stock market is the least stupid way to be addicted to gambling but it’s still one of the dumber addictions to develop.

[–] AdolfSchmitler 17 points 3 months ago (1 children)

For real. At least the odds aren't explicitly against you like casinos.

[–] [email protected] 4 points 3 months ago (1 children)

Except unlike casinos, there are breakers in place to prevent crazy jackpot earnings. Don't expect to 10x your money in a day... Or month.

[–] [email protected] 5 points 3 months ago* (last edited 3 months ago)

Expect? No.

Possible? With trading in puts and calls options definitely.

Still stupidly risky gambling where you loose most of the time? Absolutely

[–] calcopiritus 1 points 3 months ago

Depends of how you look at it, it might be even worse.

At least with casinos you know that mathematically, the more you play the more you lose. With stocks though, you have the hope that you can win it back.