this post was submitted on 02 Aug 2024
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The layoffs were announced at the same time as Intel's Q2 financial results: https://www.intel.com/content/www/us/en/newsroom/news/actions-accelerate-our-progress.html
Yep, that'll do it.
They're not even bothered by the fucked up chips.
I was gonna say... how is it not this? Weird world.
Stock price is largely about future earnings potential, not current quarter or past results. That's why a company can have record-breaking earnings, but still eat shit in stock price for a while if it lowers predictions for next quarter.