On Friday, July 24, 2020 shares of Intel Corporation (INTC) closed more than 16% lower at 50.59-9.81 (-16.24%). Intel stock had a weekly performance of -15.68% for the week ending on July 24, 2020, and is down -15.47% on a year-to-date basis.
Why Intel stock fell 16%
“An old saying in the semiconductor industry, attributed to Advanced Micro Devices Inc. co-founder Jerry Sanders, was “real men have fabs.”
That saying — along with its dated, sexist phrasing — is now officially no longer true, as semiconductor giant Intel Corp. INTC, -16.24% admitted Thursday that it could actually partner with another semiconductor foundry to help with its next-generation manufacturing technology, as it announced a delay in its next process technology for future chips.
That was a huge admission of defeat for one of Silicon Valley’s most iconic companies. Intel is one of the last remaining semiconductor companies that still uses its own fabrication plants (also called fabs) to manufacture most of its chips. These plants now cost many billions of dollars as they develop increasingly microscopic transistors aimed at increasing computer processing speeds. Intel currently farms out a small percentage, around 20%, of chips or chipsets to other contractors, but manufactures the bulk of its processors in its own factories around the world.
On Thursday, Intel’s huge earnings beat was overshadowed by the news of a delay in its next-generation manufacturing process that would move the chip maker to a 7-nanometer process. The news was an echo of many delays and problems with moving to the 10-nanometer process a couple of years ago, now finally in use for the company’s chips for PCs and servers.”
After two notices received from Nasdaq and due to the accounting fraud allegations the LK stock is to delisted early next week. LK stock price as of 3:54 PM, ET time today June 26, 2020, was 1.4100, -1.5900 -53.00%.
At 9:41 AM, ET today Nasdaq is up more than 90 points, at 10,040.94, +97.89(+0.98%). Nasdaq composite regained the 10,000 points level. All major US stock market indices are up today after about 10 minutes of the open for this stock trading session.
Stock market data: Yahoo Finance
Nasdaq live update: At 2:27 PM, ET time today Nasdaq is down more than 50 points, at 9,891.43,-51.62(-0.52%).
FB stock closed at 228.58+4.15 (+1.85%) on Friday June 12,2 2020. For the week ending on June 12, 202o FB stock had a performance of -0.95%. Shares of Facebook, Inc. (NASDAQ:FB) have a 52-week range of 137.10 – 241.21. Facebook stock has a Beta of 1.05, and a PE Ratio of 31.32. Facebook has a market capitalization of $651.25 Billion as of June 12, 2020.
TSLA stock closed at 935.28-37.56 (-3.86%) on Friday June 12,2 2020. For the week ending on June 12, 202o TSLA stock had a performance of +5.60%. Shares of Tesla, Inc. (NASDAQ:TSLA) made a new 52-week the previous week. Tesla stock has a 52-week range of 211.00 – 1,027.48. Tesla stock has a Beta (5Y Monthly) of 1.17, and a PE Ratio (TTM) N/A. Tesla has a market capitalization of 173.471 Billion as of June 12, 2020.
“Tesla stock gets two downgrades, falls below $1,000.Tesla Inc. stock lost some of its luster Friday after Goldman Sachs and Morgan Stanley moved to downgrade the shares, saying there are risks investors might have ignored as they rewarded the company with a dizzying valuation.
Tesla TSLA, -3.86% shares fell on Friday but garnered a weekly gain of 5.6%. The shares closed at a record $1,025.05 on Wednesday.”
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