Intel’s horrible quarter revealed an inventory glut and underused factories

Intel CEO Pat Gelsinger, with U.S. President Joe Biden (not pictured), announces the tech firm’s plan to build a $20 billion plant in Ohio, from the South Court Auditorium on the White House campus in Washington, January 21, 2022. Jonathan Ernst | Reuters Intel’s December earnings showed significant declines in the company’s sales, profit, gross margin, and outlook, both for the quarter and the full year. Investors hated it, sending the stock over 9% lower in extended trading, despite the fact that Intel did not cut its dividend. The earnings…

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Stocks making the biggest moves after hours: Intel, Visa, Hasbro and more

The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. Arnd Wiegmann | Reuters Check out the companies making headlines in after-hours trading. Intel — Shares of Intel plunged 8.2% after the company reported earnings that missed on the top and bottom lines. The company reported adjusted earnings of 10 cents per share on $14.04 billion in revenue where analysts expected 20 cents per share on revenue of $14.46 billion, per Refinitiv. Intel…

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Intel shares drop on weak quarterly results and expectations for another quarter of losses

Intel CEO Pat Gelsinger stands in front of a cathedral in the German city of Magdeburg on Nov. 12, 2022. During his visit, Gelsinger also visited the planned site of the Intel Gigafactory in the Eulenberg industrial park. /dpa-Zentralbild/dpa (Photo by Peter Gercke/picture alliance via Getty Images) Peter Gercke | Picture Alliance | Getty Images Intel shares slid by as much as 7% in extended trading on Thursday after the chipmaker issued fourth-quarter results that failed to meet analysts’ estimates and gave a weaker-than-expected forecast. Here’s how the company did:…

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5 things to know before the stock market opens Thursday

Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., January 25, 2023.  Andrew Kelly | Reuters Here are the most important news items that investors need to start their trading day: 1. The earnings march goes on We’re deeper into earnings season, so investors are getting more and more data to chew over every day. Tesla, IBM and Levi Strauss headlined Wednesday’s after the bell earnings, while several more hit Thursday, including Comcast before the bell and Intel after the market…

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Semiconductor giant ASML sees 2023 sales surge; says China revenue to be steady despite U.S. chip restrictions

Dutch firm ASML makes one of the most important pieces of machinery required to manufacture the most advanced chips in the world. U.S. chip curbs have left companies, including ASML, scrambling to figure out what the rules mean in practice. Emmanuel Dunand | AFP | Getty Images Dutch chip equipment maker ASML forecast a jump in 2023 revenue as the semiconductor industry predicts there will be a reacceleration of growth in the second half of this year. ASML is one of the world’s most important companies in the chip supply…

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Apple ramped up lobbying spending in 2022, outpacing tech peers

Chief Executive Officer of Apple Tim Cook (L) arrives at the White House to attend a state dinner honoring French President Emmanuel Macron, in Washington, DC, on December 1, 2022. Roberto Schmidt | AFP | Getty Images Apple ramped up its lobbying spending last year, increasing its total for the year by 44% compared to 2021, according to public disclosures. Though Apple’s lobbying spending grew the most in the past year compared to peers in the industry, it still spends far below other tech giants. Apple’s total lobbying efforts came…

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5 things to know before the stock market opens Monday

Traders work on the floor of the New York Stock Exchange.  NYSE Here are the most important news items that investors need to start their trading day: 1. Hanging on The three major stock indices are still in positive territory this month despite last week’s choppy results. Stocks closed Friday on a high note, with the Nasdaq pulling out a gain for the week, even as the Dow and S&P 500 slid. Investors will parse through a big slate of earnings this week (more on this below) as they look…

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The tech IPO market collapsed in 2022, and next year doesn’t look much better

The Nasdaq MarketSite in New York. Michael Nagle | Bloomberg | Getty Images Following a record-smashing tech IPO year in 2021 that featured the debuts of electric car maker Rivian, restaurant software company Toast, cloud software vendors GitLab and HashiCorp and stock-trading app Robinhood, 2022 has been a complete dud. The only notable tech offering in the U.S. this year was Intel’s spinoff of Mobileye, a 23-year-old company that makes technology for self-driving cars and was publicly traded until its acquisition in 2017. Mobileye raised just under $1 billion, and…

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Tech stocks got whacked in 2022 — but one server maker soared almost 90%, beating all its peers

Charles Liang, CEO, Super Micro  Source: Supermicro  It’s been a brutal year for tech stocks. The Nasdaq is headed for its worst slump since 2008 and is poised to underperform the S&P 500 for a second straight year. Among mega-cap tech stocks, Amazon, Meta and Tesla have each lost at least half their value. Investors looking for some sign of optimism can turn to a 29-year-old server maker located in the heart of Silicon Valley. Shares of Super Micro Computer have soared 89% in 2022, topping all other U.S. tech…

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Semiconductor maker Micron announces 10% staff reduction, suspends bonuses

Micron Technology headquarters in Boise, Idaho, March 28, 2021. Jeremy Erickson | Bloomberg | Getty Images Semiconductor maker Micron announced on Wednesday that it would reduce its headcount by about 10% in 2023, in the latest example of a technology industry slowdown affecting employment. Shares of Micron fell over 1% in extended trading. Idaho-based Micron has about 48,000 employees, according to a recent SEC filing. The company said that it would hit its reduction target through voluntary departures as well as layoffs. Micron also said it was suspending 2023 bonuses.…

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