** Intel shares slump 7.4% at $32.54 premarket after the firm forecasts Q2 revenue and profit below estimates
** Stock top percentage loser among blue-chip Dow members
** Firm faces weak demand for its traditional data center and PC chips and trails in the surging AI components market
** Management is confident June quarter represents a bottom for profitability and anticipates a stronger H2, 2024 on revenue, but beyond that catalysts are few and far between in our view - TD Cowen
** Rival Advanced Micro Devices up 1.7%
** INTC shares on track for steepest monthly percentage loss since January 2008
** INTC down 30% YTD and AMD up 4.4% in the same period
(Reporting by Medha Singh)
((medha.singh@thomsonreuters.com))
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