Intel Crashed Over 10% and Led the Sector Down in Morning Trading After Posting Its Disappointing Financial Results
$Intel(INTC)$ crashed over 10% and led the sector down in morning trading after posting its financial results.
It forecast Q1 revenue in the range of about $10.5 billion to $11.5 billion, and expects an adjusted loss of 15 cents per share, profit margins may fall further after dropping from 58.4% in Q4 2020 to 39.2% in Q4 2022. Revenue in Q4 fell 32% to $14 billion.
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