Over the last year, Intel shares have rallied more than doubled on hopes of a turnaround for the embattled American chipmaker.
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Intel
shares plunged 14% Friday after the chipmaker issued lackluster guidance and warned of a supply shortage.
During a fourth-quarter earnings call with analysts on Thursday, CEO Lip-Bu Tan said the company wouldn’t be able to meet full demand for its products. He said production efficiency, or yield, is also below his targets.
“We are on a multiyear journey,” he said. “It will take time and resolve.”
Intel reported fourth-quarter earnings Thursday that beat Wall Street expectations but offered soft guidance for the current…
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"There are no more blank checks. Every investment must make economic sense," Tan wrote.
