Technology

58092 readers

2941 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

1092

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 1 month ago by ForgottenFlux@lemmy.world to c/technology@lemmy.world

278 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] Raiderkev@lemmy.world 116 points 1 month ago (3 children)

And some moron on Wallstreetbets just invested his $700k inheritance in shares yesterday. He's -200k rn

[–] captainlezbian@lemmy.world 80 points 1 month ago (3 children)

The stock market is the least stupid way to be addicted to gambling but it’s still one of the dumber addictions to develop.

[–] AdolfSchmitler@lemmy.world 17 points 1 month ago (1 children)

For real. At least the odds aren't explicitly against you like casinos.

[–] shasta@lemm.ee 4 points 1 month ago (1 children)

Except unlike casinos, there are breakers in place to prevent crazy jackpot earnings. Don't expect to 10x your money in a day... Or month.

[–] Tryptaminev@lemm.ee 5 points 1 month ago* (last edited 1 month ago)

Expect? No.

Possible? With trading in puts and calls options definitely.

Still stupidly risky gambling where you loose most of the time? Absolutely

[–] calcopiritus@lemmy.world 1 points 1 month ago

Depends of how you look at it, it might be even worse.

At least with casinos you know that mathematically, the more you play the more you lose. With stocks though, you have the hope that you can win it back.

[–] Emmie@lemm.ee 10 points 1 month ago* (last edited 1 month ago) (1 children)

Wow I am glad I only lost 10k and called it expensive stock market crash course. Apparently minute trading is not that easy

And that person is waiting for recovery, classic move. Next phase is trying to win it all back

I am so glad I got this lesson before the inheritance, I would 100% do something similar

[–] Raiderkev@lemmy.world 3 points 1 month ago (1 children)

I lost a grand myself n was mad about it lol

[–] Emmie@lemm.ee 3 points 1 month ago* (last edited 1 month ago)

I am not exactly super good with money to be honest, recently I bought like full set of apple pro devices and now I am thinking how to get liquidity for UV skincare and clothes, I desperately need clothes, and body laser and several plastic surgeries and… yeah.
But I learned something from all these sprees I hope. It’s that I am not rich and shouldn’t behave like I am. I may be slightly stupid tho, in an adhd way.

[–] stembolts@programming.dev 5 points 1 month ago

As long as the jackass doesn't sell, they're solid.

I had a roommate who invested, when his stuff went down more than 5% he'd sell it, "Don't wanna be too risky," he'd say, unaware that he was breaking the cardinal rule of investing..

Then, "Omg it's up again, I better buy high before it goes higher!" then repeat pattern A again.

Moral of the story, if you actually believe in a stock, unrealized losses are not something to react to. Or do, and become a warning tale told to others, ha. Them -5% hits add up QUICK.