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Intel Shares Drop 10% As Quarterly Sales Growth Plummets

By
Kevin McLaughlin
· · Source: The Information

Shares of Intel dropped more than 10% after the chipmaker reported a 22% sales decline compared to last year along with a $454 million net loss for its July quarter, while also slashing its full-year revenue and profit forecast. The results fell far short of the quarterly financial targets Intel set in April and point to a precipitous drop in demand for PCs and servers. On an earnings call,...

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