Intel's 'historic collapse' erases $8b from market value
Dhaka, Jan. 28 -- Intel saw about $8 billion wiped off its market value on Friday after the US chipmaker stumped Wall Street with dismal earnings projections, fanning fears around a slump in the personal-computer market.
The company predicted a surprise loss for the first quarter and its revenue forecast was $3 billion below estimates as it also struggled with slowing growth in the data centre business, reports Reuters.
Intel shares closed 6.4 per cent lower, while rival Advanced Micro Devices and Nvidia ended the session up 0.3 per cent and 2.8 per cent, respectively. Intel supplier KLA Corp settled 6.9 per cent lower after its dismal forecast.
"No words can portray or explain the historic collapse of Intel," said Rosenblatt Securitie...
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