June 7, 2023

Urban Tech Story | Intel’s market value evaporated by $8 billion after the financial report was announced

Intel lost $8 billion in market value on Friday after disclosing a disappointing fourth-quarter 2022 earnings report and forecasting that the first quarter of 2023 could be even worse. Intel shares fell 6.4%, with a market value of $116.2 billion at the close, while rival AMD rose slightly by 0.3%, with a market value of $121.6 billion, while Nvidia rose 2.8%. Compared with Intel’s Sapphire Rapids, AMD’s data center processors Genoa and Bergamo have significant price-performance advantages, and are expected to further eat into Intel’s data center market share. Intel’s earnings report raised concerns about a recession in the PC market.


Ewen Eagle

I am the founder of Urbantechstory, a Technology based blog. where you find all kinds of trending technology, gaming news, and much more.

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