Intel's 22% share price drop due to disappointing earnings and layoffs impacted global chip stocks.
Intel's 22% share price drop, due to disappointing earnings and a 15% employee layoff plan, negatively impacted global chip stocks, including Samsung, TSMC, and European firm ASML. The VanEck Semiconductor ETF, which includes major names in the sector, closed 6.5% lower in the US on Thursday, amidst a global market sell-off affecting tech stocks.
August 02, 2024
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