"Intel shares plunged the most in 50 years on Friday, reaching a price not seen since 2013, after the chipmaker reported a big earnings miss and announced a massive restructuring.

The stock plummeted 27% to $21.22 as of late morning trading. It would be the second worst day ever for the shares, behind only a 31% drop in July 1974, which was three years after Intel’s IPO. The company’s market cap is now below $100 billion.

The dramatic selloff contributed to a 2.4% drop in the Nasdaq and pulled down global semiconductor stocks. Taiwan Semiconductor Manufacturing Co. — known as TSMC — closed 4.6% lower in Taiwan, and Samsung was down more than 4% at the end of the session in South Korea. TSMC is the world’s biggest manufacturer of chips, while Samsung is the largest memory semiconductor firm globally.

Intel’s numbers were bad across the board..."
https://www.cnbc.com/2024/08/02/intel-share-plunge-drags-down-global-chip-stocks-from-tsmc-to-samsung.html

Intel is also having negative PR from big tech youtubers due to their CPU failures and allegedly shady/dishonest conduct

Will the stock fall to even more historic lows of 18.50 USD in August 2024? Afterhours and pre-market hours count.

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