Intel Stock Is Sliding After The Bell: What's Going On?
Portfolio Pulse from Adam Eckert
Intel Corp (NASDAQ:INTC) shares fell in after-hours trading following the announcement of a new financial framework for its foundry business, aimed at increasing cost discipline and returns. The new structure includes the Intel Foundry as a separate operating segment and anticipates foundry operating losses to peak in 2024, with a goal of reaching break-even operating margins by the end of 2030. Intel also appointed Lorenzo Flores as CFO of Intel Foundry.
April 02, 2024 | 8:39 pm
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Intel's announcement of a new financial framework for its foundry business and the appointment of a new CFO for the segment led to a decrease in its stock price in after-hours trading.
The announcement of a new financial framework and the anticipation of foundry operating losses peaking in 2024 may have led investors to react negatively in the short term, fearing the impact of these losses on overall financial performance. The appointment of a new CFO for the Intel Foundry segment indicates significant changes and potential uncertainty, which can also contribute to short-term negative sentiment among investors.
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