Earnings Special: Intel Plunges on PC Sales Slump & Amazon Slips
Intel plunged in late trading after its revenue forecast missed analysts’ estimates, hurt by sputtering demand for PC processors and supply-chain problems with its lucrative data center components. The shares plunged in extended trading as much as 17%. The stock had gained 5.6% this year through Thursday’s close. Meanwhile, Amazon shares dropped after the company reported greater capital spending than anticipated and the slowest growth in the core e-commerce business in three years. For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with Bloomberg Intelligence senior semiconductor analyst Kunjan Sobhani and Bloomberg Intelligence senior tech analyst Anurag Rana from Schwab IMPACT in Boston. See omnystudio.com/listener for privacy information.