Intel share price, July 28 -- Shares of chipmaker Intel suffered a brutal blow in the last trade as investors were not only perturbed by the lower-than-expected performance, layoff announcement and weak outlook but also by the CEO's future plans.

Lip-Bu Tan, the CEO of Intel, sparked concerns that he was more focused on cost-cutting than restoring the chipmaker's technological edge. All these factors together pushed the Intel share price 8.53% down to $20.70. The stock, however, showed signs of some gains in the pre-market trade today, July 28, as it gained 0.50%.

Intel reported a $2.9 billion loss in Q2 as against profit expectations. Moreover, its sales stood at $12.9 billion, little changed from a year earlier, although above Bloombe...