Intel stock falls most since 1974 as Israel plant shutdown hits; US stake loses $12B
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Intel shares dropped substantially after the company provided a disappointing forecast concerning its earnings. The decline was influenced by a significant disruption at a fabrication plant in Israel, which caused an extended shutdown. Analysts noted ongoing weakness in the perso...
Intel shares dropped substantially after the company provided a disappointing forecast concerning its earnings. The decline was influenced by a significant disruption at a fabrication plant in Israel, which caused an extended shutdown. Analysts noted ongoing weakness in the personal computer market impacting overall demand and revenue projections. Intel estimated a revenue loss of approximately $600 million due to the plant’s explosion.
Original Source
https://timesofindia.indiatimes.com/technology/tech-news/intel-stock-sees-worst-fall-since-1970-plant-shutdown-in-israel-hurt-us-government-loses-billions/articleshow/135391601.cms
