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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.

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[+] [email protected] -14 points 3 months ago* (last edited 3 months ago) (2 children)

It's hilarious how people will shit on NFTs but not non-dividend stocks that are just corporate NFTs without even a jpg of a monkey.

[–] [email protected] 12 points 3 months ago* (last edited 3 months ago)

Nope, not even close.

NFTs are wildly, wildly more speculative investments than the stock market, having absolutely 0 solid foundation of an actual business with capital and products and services behind them, they have a proven track record of 99% of them losing 99% of their value in a year or two, and 99% of them are just outright scams.

Go watch a some Folding Ideas videos for a more in depth explanation.

After a decade plus of watching crypto currencies evolve, the only one that actually does what a crypto currency was originally supposed to do is monero, xmr: Secure, very hard to trace transactions that can be done with anonymity, provided you learn a whole bunch of opsec.

[–] aesthelete 2 points 3 months ago

Dude nfts are like worse than digital beanie babies, because at least with the beanie babies there was a trademark restriction.