this post was submitted on 02 Aug 2024

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Intel's stock drops 30% overnight —company sheds $39 billion in market cap | As of now, Intel's market value is a fraction of Nvidia's worth and less than half of AMD's (www.tomshardware.com)

submitted 3 months ago by ForgottenFlux@lemmy.world to c/technology@lemmy.world

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Intel's stock dropped around 30% overnight, shaving some $39 billion from the company's market capitalization since rumors of a pending layoff first emerged. The devastating results come after the chip giant reported a loss for the second quarter, complained about yield issues with the Meteor Lake CPU, provided a modest business outlook for the next few quarters, and announced plans to lay off 15,000 people worldwide.

When the NYSE closed on July 31, Intel's market capitalization was $130.86 billion. Then, a report about Intel's massive layoffs was published, and the company's market capitalization dropped sharply to $123.96 billion on August 1. Following Intel's financial report yesterday, the company's capitalization dropped to $91.86 billion. Essentially, Intel has lost half of its capitalization since January. As of now, Intel's market value is a fraction of Nvidia's worth and less than half of AMD's.

As Intel's actions look rather desperate, analysts believe that Intel's challenges are existential. "Intel's issues are now approaching the existential," Stacy Rasgon, an analyst with Bernstein, told Reuters.

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[–] Boozilla@lemmy.world 1 points 3 months ago (4 children)

When I had to flash my BIOS and pray that it didn't brick my PC I cursed them, saying "Fuck Intel, I hope their stock plummets!"

You're welcome everyone.

[–] affiliate@lemmy.world 1 points 3 months ago (2 children)

can you do reddit next please

[–] foofiepie@lemmy.world 1 points 3 months ago (2 children)

Tiktok afterwards please.

[–] Reverendender@sh.itjust.works 1 points 3 months ago (2 children)

Then all oil companies

[–] Damage@feddit.it 1 points 3 months ago (2 children)

Let's do these before everything else

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[–] BombOmOm@lemmy.world 0 points 3 months ago

Then all oil companies

Survey says, Gazprom! https://lemmy.world/post/18220754

[–] altima_neo@lemmy.zip 0 points 3 months ago

Ticketmaster

[–] jaybone@lemmy.world 0 points 3 months ago (1 children)

Everyone’s acting like this guy said he’s taking requests.

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[–] uberdroog@lemmy.world 0 points 3 months ago

glad I just went with AMD. Dodged a bullet.
Man that 11 billion they just got from us, so hot.

[–] CalcProgrammer1@lemmy.ml 0 points 3 months ago (1 children)

Ugh, I got a fair return from buying to AMD right before Ryzen came out. I sold some of it and bought multiple different chip companies so now I have some AMD, some Intel, some NVDA. Oh well, it's not a huge amount but still sucks. I hope they can come back if only because AMD needs competition to keep them from becoming the evil that old Intel was. I was hoping Intel would also be a viable third GPU competitor, I like my Arc A770 for the price and I'm hoping they don't kill off the GPU division.

[–] cyborganism@lemmy.ca 0 points 3 months ago

I was going to make bank with NVDA then it started to fall. Lost half of my profits and then decided to sell everything. I'm glad I did. In going to wait for some good news before reinvesting.

[–] cheese_greater@lemmy.world 0 points 3 months ago* (last edited 3 months ago) (1 children)

I wonder if that guy who bet his inheritance from WallStreetBets is ok...

[–] Imgonnatrythis@sh.itjust.works 0 points 3 months ago (1 children)

As someone with no inheritance now or ever, it's hard for me to imagine it has anything but fuck around money. I'm sure he's fine.

[–] cheese_greater@lemmy.world 0 points 3 months ago (1 children)

Like he'll be fine but psychologically thats gotta be tuff. Shoulda thrown it in index funds or some guranteed instrument

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[–] cygnus@lemmy.ca 0 points 3 months ago (4 children)

Brutal, nearly the lowest since 2008. Makes me want to buy in at this point.

[–] bluGill@kbin.run 0 points 3 months ago (3 children)

The market does tend to overreact so this is possible a sign to buy low. I can't be bothered to check the fundamenals but it seems unlikely that amd is a better investment long term. If you are not looking at least 5 years to the future stocks are a bad idea.

[–] conditional_soup@lemm.ee 0 points 3 months ago* (last edited 3 months ago) (2 children)

OTOH: Boeing. Had the 737 Max bug been a one-off incredibly bad fuck up, they would have been a good buy. Then it turned out that that bug was just the first sign of many deep seated issues with their production process. Boeing 100% deserves everything they're getting. Management skipped right over lawful, chaotic, and neutral evil and went into stupid evil, and decided that sacrificing QC/QA on aerospace equipment would be a great way to get returns for shareholders.

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[–] brucethemoose@lemmy.world 0 points 3 months ago* (last edited 3 months ago) (1 children)

AMD is super hot right now. Not in a good way.

I bought AMD at $8/share (and am still holding it), and I'm getting a similar vibe from Intel now...

[–] cygnus@lemmy.ca 0 points 3 months ago (1 children)

I bought AMD at $8/share (and am still holding it)

Wow, I'd have dropped that hot potato ages ago.

[–] brucethemoose@lemmy.world 0 points 3 months ago

I am glad I didn't lol. Still not, the datacenter GPUs are something else, and so is their multi-chip design prowess.

[–] bluemellophone@lemmy.world 0 points 3 months ago (3 children)

Fundamentals: Intel powers the US military industrial complex, they’ll weather this storm.

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[–] JoMiran@lemmy.ml 0 points 3 months ago

I found Jim Cramer.

[–] cheddar@programming.dev 0 points 3 months ago

Don't worry, tomorrow the market is closed!

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[–] darki@lemmy.world 0 points 3 months ago

More than that, for years their CPUs have been eating more and more watts and the electricity prices went up... Just keep them on par with AMD CPUs... But still , most default to Intel...

[–] sunzu@kbin.run 0 points 3 months ago

But think about all those stock buy backs.

Didnt they spend 40 billion last ten years?

How much is federal government giving them?

Asking for a friend.

Disgusting welfare queens

[–] Bbmin7b5@lemm.ee 0 points 3 months ago (6 children)

And people will continue to buy the 14900k and have the shocked pikachu face.

[–] darki@lemmy.world 0 points 3 months ago

More than that, for years it has been eating more and more watts and the electricity prices went up... But still , most simp for Intel 💀

[–] Badeendje@lemmy.world 0 points 3 months ago

Well a lot of products have these things in them and a lot of people have no clue they are getting sold a defective product. This is all on intel, do not blame the customer because the big corporation is selling defective goods.

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[–] alphacyberranger@sh.itjust.works 0 points 3 months ago

Fuck around and find out

[–] BombOmOm@lemmy.world 0 points 3 months ago (1 children)

It certainly doesn't help Intel has been intentionally selling defective product in the 13th and 14th gen lines. People are quite reasonably going to AMD more and more.

[–] jws_shadotak@sh.itjust.works 0 points 3 months ago (11 children)

Does AMD have anything to compete with Intel QSV? I'm looking to upgrade my Plex server and was looking at a newer Intel CPU.

[–] jlh@lemmy.jlh.name 0 points 3 months ago (2 children)

The latest AMD cpus do have transcoding, but Amd transcode isn't very good and isn't very compatible with Linux.

You can pick up an Intel A310 single slot GPU for $100 and it has AV1 encode, which is something that the igpu QSV doesn't have. Works very well in my $100 Epyc motherboard with 80+ pcie lanes.

[–] sanpo@sopuli.xyz 0 points 3 months ago (4 children)

Amd transcode isn’t very good and isn’t very compatible with Linux

It's compatible just fine. But the quality... well, it's not the worst, but definitely not the best quality.

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[–] BombOmOm@lemmy.world 0 points 3 months ago* (last edited 3 months ago) (1 children)

AMD have anything to compete with Intel QSV

I believe AMD VCN does the same thing. Though I haven't looked into it. AMD chips also have pretty decent onboard video cores, so you might be able to do hardware accelerated encoding that way too.

was looking at a newer Intel CPU

Just stay away from Intel 13th and 14th gen chips. They have oxidation issues from the factory and are also over-volting themselves. The former is unfixable and the latter causes unfixable damage.

[–] kurcatovium@lemm.ee 0 points 3 months ago (3 children)

Does laptop cpus have same problems? I've found mixed results.

[–] BombOmOm@lemmy.world 0 points 3 months ago (1 children)

We don't know and Intel is being incredibly mum about the entire situation.

[–] peopleproblems@lemmy.world 0 points 3 months ago

Which probably means a lot of corporations that have Intel inside their everyday computers may be less than enthusiastic about what they spent money on.

[–] mrvictory1@lemmy.world 0 points 3 months ago

IIRC Intel confirmed all Gen13/14 CPUs with 65W TDP or more have the same issues K series do.

[–] BatrickPateman@lemmy.world 0 points 3 months ago

Read somewhere that everything 65W TDP and up is affected. Laptop CPUs should be mostly fine then.

[–] Omgboom@lemmy.zip 0 points 3 months ago* (last edited 3 months ago)

You want to look into VCN

https://en.m.wikipedia.org/wiki/Video_Core_Next

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[–] brucethemoose@lemmy.world 0 points 3 months ago (2 children)

Time to buy?

I'm pretty sure the US gov views them as too big to fail. Surely they can't mess up Xe, Falcon Shores, and the foundry business, right?

RIGHT!?

[–] catloaf@lemm.ee 0 points 3 months ago (1 children)

They could, but the US government has a strong interest in keeping them around. Not only do they do a huge amount of development, and not just on CPUs, but they also have the largest share of government purchasing by far.

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[–] daqu@feddit.org 0 points 3 months ago (2 children)

Will nvidia buy Intel, like AMD bought ATI?

[–] TheGrandNagus@lemmy.world 0 points 3 months ago (1 children)

Regulators wouldn't allow that to happen.

[–] crusa187@lemmy.ml 0 points 3 months ago (3 children)

Don’t be so sure about that.

[–] Crashumbc@lemmy.world 0 points 3 months ago (4 children)

Yeah, it very much depends on who is in charge after November.

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[–] gcheliotis@lemmy.world 0 points 3 months ago (7 children)

And to think I grew up at a time when Intel reigned supreme. My my.

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