PC chip plunge wipes out a quarter of Intel’s value
Intel saw a 21% year-on-year revenue increase to $16.5 billion, driven by AI and datacenter growth. However, a 5% year-over-year drop in client computing revenue and a predicted 12% market shrink next year led to a sharp share price decline.
Key points
- Intel's share price fell nearly 25% following Q3 results
- Datacenter and AI products grew by 78%
- PC chip market is predicted to shrink by 12% next year
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