Intel: INTC Expects Steepest Revenue Drop in 5 Quarters Amid AI Struggles
As the stock still attempts to rebound from underwhelming Q2 earnings data, Intel (INTC) is bracing for its steepest revenue drop in five quarters as it continues to struggle within the AI sector. Despite the booming market, the company has failed to capitalize on its position, with the chipmaker floundering. The company is set to announce its most recent quarterly earnings on October 31st. There is the hope that it would drive interest, but a negative outcome could hinder any attempt at a bounceback for the firm. All eyes are now on Intel CEO Pat Gelsinger to orchestrate a plan to drive competition once again. Source: Business Insider Also Read: Intel: Is Quantum Computing Key to an INTC Comeback? Intel Struggles Continue as INTC Poised for Massive Revenue Drop The last two years have seen the stock market’s information technology sector thoroughly embrace AI. With the meteoric rise of OpenAI’s generative chatbot, ChatGPT, demand for the tech has skyrocketed. Moreover, its ...