Friday, 24 March, 2023

Intel Lowers Full-Year Forecast, Battered Stock Rises

<p>Chipmaker Intel Corp lowered its full-year profit and revenue forecast and announced it would be laying off workers. However, a better-than-anticipated performance at its personal computers sector helped boost the stock. In after-hours trading, Intel stock rose more than 5%. They have fallen over 47% so far this year, lagging both the Philadelphia SE Semiconductor index and the S&amp;P 500 index, and shall also cut&nbsp;expenditure forecast&nbsp;from $27B to the previous $25B.</p>