The “historic collapse” of Intel reduces market value by $8 billion.

The market capitalization of Intel Corp was reduced by roughly $8 billion on Friday as a result of the US chipmaker’s gloomy earnings forecasts, which stoked concerns about a decline in the personal computer industry.
The company anticipated a first-quarter surprise loss and forecasted revenue $3 billion below projections as it simultaneously battled declining growth in the data centre industry.
While competitors Advanced Micro Devices and Nvidia ended the session up, respectively, 0.3% and 2.8%, Intel shares closed 6.4% lower. Following its poor projection, KLA Corp, an Intel supplier, saw its stock close 6.9% down.

This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum.