Intel’s fourth-quarter earnings fell short of analyst projections, as the chipmaker struggles with sluggish demand. The chip manufacturer, based in Santa Clara, California, added that steps had already been taken to “right-size” the workforce during Q4.
While Advanced Micro Devices has been gaining market share and growing at a much faster rate than Intel, the former has been a bellwether for gaming. On January 31, AMD releases its earnings. Additionally, Intel stated that for the current first quarter ending March 31, it anticipates reporting an adjusted loss of 15 cents per share.
The stock is under pressure because analysts had predicted a Q1 profit of 24 cents per share. Intel’s stock is down 8.4% in after-hours trading to USD 27.55 per share.
Read More: Intel misses analyst targets as it struggles with a slowdown.
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