Intel share price fall by 8 percent in a day
January 25, 2019 | Investopaper
World’s second largest company in semiconductor chip making, Intel Corporation, has reported lower than expected revenue for the fourth quarter of 2018. The company reported revenue of $18.66 billion while EPS stood at $1.28. This is a 9 percent growth as compared to the last quarter of 2017.
After the release of the report, the price of Intel shares fell by 8 percent this Thursday. The downfall was further aided by the first quarter projection of no growth in revenue and earnings as compared to corresponding quarter of 2018. Intel has been looking for a new permanent CEO since last six months.
The main worrying aspect for the investors was the major decline in cloud sales growth. Intel should look to resolve other problems like cloud slowdown, delayed entry in the 5G market and look for a new manufacturing process to make smaller chips.
