Intel shares fall 20% on plans to cut 15,000 jobs



Intel shares fall 20% on plans to cut 15,000 jobs

https://www.ft.com/content/166d25c5-5d26-4a3e-bd37-d4394306b596

by EricMoneyGuru

15 comments
  1. How does this article not at least consider the Raptor Lake CPU bug as part of the sell off?

    > Intel has stated that, upon investigation, it believes the issue is down to the CPUs pulling more power than they should under certain circumstances due to a microcode bug. That kind of stress can lead not just to instability, but also (unstated by the chip maker, but not disputed) **permanent CPU damage.**

    [https://www.pcmag.com/explainers/intels-raptor-lake-desktop-cpu-bug-what-to-know-what-to-do-now](https://www.pcmag.com/explainers/intels-raptor-lake-desktop-cpu-bug-what-to-know-what-to-do-now)

  2. More on this subject from other reputable sources:


    – TechSpot (A-): [Intel faces possible class action lawsuit over crashing Raptor Lake processors](https://www.techspot.com/news/104069-intel-faces-possible-class-action-lawsuit-over-faulty.html)
    – tomshardware.com (C): [Intel to layoff more than 15% of workforce — almost 20,000 employees — encountered Meteor Lake yield issues, suspends dividend](https://www.tomshardware.com/pc-components/cpus/intel-to-layoff-more-than-15-of-workforce-almost-20000-employees-encountered-meteor-lake-yield-issues-suspends-dividend)
    – Reuters (A): [Intel to cut 15% jobs, suspend dividend in turnaround push; shares plummet](https://www.reuters.com/technology/intel-forecasts-third-quarter-revenue-below-estimates-cut-15-jobs-2024-08-01/)
    – Register (A-): [Legal eagles target Intel for class action over cooked Raptor Lake CPUs](https://www.theregister.com/2024/08/01/intel_raptor_lake_lawsuit/)


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  3. Intel’s technology is way behind, x86 is a dead end, and their business model is obsolete. They’re not going to win the chip war with brand and marketing.

  4. Their 13th and 14th gen chips degrading and failing did more brand damage than anything else within the PC community. Intel lost a big part of the market going forward, and it’s unlikely intel will ever recover.

  5. > looks at day, week

    Sorry where is anyone seeing 20%?

    > looks at ytd

    Oh.

    Yeah good times make weak semiconductor manufacturers. AMD++

  6. Their downhill decline began when Apple ditched intel processors to make their own because they weren’t fast enough.

    Intel reacted by changing nothing.

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