Intel stock tumbles after brutal results

Pat Gelsinger, CEO, of Intel Corporation, testifies during the Senate Commerce, Science, and Transportation hearing on semiconductors titled Developing Next Generation Technology for Innovation, in Russell Senate Office Building on Wednesday, March 23, 2022.

Tom Williams | CQ-Roll Call, Inc. | Getty Images

Intel shares continued to slide Friday, falling as much as 10% after the company reported dismal quarterly and full-year results. The chipmaker’s tepid quarterly numbers, with a 32% year-over-year revenue decline and a net loss of $664 million for the fourth quarter of 2022, took both analysts and investors by surprise.

Intel’s troubles, which include a surfeit of chips and weakening demand for factories pressing on its margin, are unlikely to abate soon, with the company guiding to an…

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