Intel's stock price hits biggest drop in over 40 years
股海静观陶
发表于 2024-8-3 10:27:05
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Intel's stock price has experienced its largest decline in over 40 years. The stock fell 26% to $21.48 on Friday, evaporating approximately $32 billion in market value. This is the largest single day decline for the stock since at least 1982.
Previously, Intel's latest financial report for the second quarter of fiscal year 2024 showed a revenue of $12.8 billion, a year-on-year decrease of 1%, a quarterly net loss of $1.6 billion, and a net profit of $1.5 billion in the same period last year, which turned into a loss year-on-year. The company will suspend dividends starting from the fourth quarter of 2024, marking the first time in 32 years that dividends have been suspended. The CEO of Intel stated that the financial performance in the second quarter is still disappointing, and the trend in the second half of the year is more challenging than expected. In addition, Intel announced that it will lay off 15% of its employees, totaling approximately 15000 people. This is the largest layoff in Intel's history.
The company expects third quarter revenue of $12.5 billion to $13.5 billion on Thursday, with an average analyst expectation of $14.38 billion. Intel expects a loss of 3 cents per share excluding special items, while analysts estimate earnings of 30 cents per share.
After the performance announcement, several major banks lowered their target prices, among which Da Mo and TD COWEN lowered Intel's target price to $25; Deutsche Bank lowers Intel's target price to $27; Jeffrey lowered Intel's target price to $28. In addition, S&P has placed Intel's rating on a negative credit watch list.
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声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
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