Intel’s stock dropped around 30% overnight, shaving some $39 billion from the company’s market capitalization since rumors of a pending layoff first emerged. The devastating results come after the chip giant reported a loss for the second quarter, complained about yield issues with the Meteor Lake CPU, provided a modest business outlook for the next few quarters, and announced plans to lay off 15,000 people worldwide.
When the NYSE closed on July 31, Intel’s market capitalization was $130.86 billion. Then, a report about Intel’s massive layoffs was published, and the company’s market capitalization dropped sharply to $123.96 billion on August 1. Following Intel’s financial report yesterday, the company’s capitalization dropped to $91.86 billion. Essentially, Intel has lost half of its capitalization since January. As of now, Intel’s market value is a fraction of Nvidia’s worth and less than half of AMD’s.
As Intel’s actions look rather desperate, analysts believe that Intel’s challenges are existential. “Intel’s issues are now approaching the existential,” Stacy Rasgon, an analyst with Bernstein, told Reuters.
When I had to flash my BIOS and pray that it didn’t brick my PC I cursed them, saying “Fuck Intel, I hope their stock plummets!”
You’re welcome everyone.
can you do reddit next please
Tiktok afterwards please.
Then all oil companies
Then all oil companies
Survey says, Gazprom! https://lemmy.world/post/18220754
Let’s do these before everything else
Ticketmaster
Everyone’s acting like this guy said he’s taking requests.
It certainly doesn’t help Intel has been intentionally selling defective product in the 13th and 14th gen lines. People are quite reasonably going to AMD more and more.
Does AMD have anything to compete with Intel QSV? I’m looking to upgrade my Plex server and was looking at a newer Intel CPU.
The latest AMD cpus do have transcoding, but Amd transcode isn’t very good and isn’t very compatible with Linux.
You can pick up an Intel A310 single slot GPU for $100 and it has AV1 encode, which is something that the igpu QSV doesn’t have. Works very well in my Epyc motherboard with 76 pcie lanes. I definitely recommend going with an ATX 1st gen Epyc cpu+motherboard if you want something that can do NVMe raid.
Amd transcode isn’t very good and isn’t very compatible with Linux
It’s compatible just fine. But the quality… well, it’s not the worst, but definitely not the best quality.
Politely, not the worst compared to what, exactly?
It’s way worse than qsv, nvenc, x264 or x265 which are basically the only hardware or cpu options you’re likely to run into doing plex transcoding.
AMD have anything to compete with Intel QSV
I believe AMD VCN does the same thing. Though I haven’t looked into it. AMD chips also have pretty decent onboard video cores, so you might be able to do hardware accelerated encoding that way too.
was looking at a newer Intel CPU
Just stay away from Intel 13th and 14th gen chips. They have oxidation issues from the factory and are also over-volting themselves. The former is unfixable and the latter causes unfixable damage.
Does laptop cpus have same problems? I’ve found mixed results.
We don’t know and Intel is being incredibly mum about the entire situation.
Which probably means a lot of corporations that have Intel inside their everyday computers may be less than enthusiastic about what they spent money on.
Read somewhere that everything 65W TDP and up is affected. Laptop CPUs should be mostly fine then.
OK, glad to hear this. Thank you. (Also hope it’s not another intel’s lie.)
IIRC Intel confirmed all Gen13/14 CPUs with 65W TDP or more have the same issues K series do.
OK, thanks for heads up.
You want to look into VCN
I hardly ever transcode at home. I mostly use ffmpeg on a crappy old i5 server that I use for other beataround stuff too. I tend to do that in batch mode and it’s fast enough for my purposes. That’s an approach to consider. Or you could spin up Intel VM’s as needed on Hetzner unless you’re doing a totally ridiculous amount of transcoding.
I need on-location transcoding because my internet is garbage (~50 mbps). Sometimes my users need to transcode the show if the bit rate of the file is too high for my internet to keep up.
Wait you’re literally serving other users from a home internet? Oh man, get a VM or some colo space or something. Or faster internet. Your internet is much faster than mine and one reason I transcode remotely is to drop the bit rate enough that I can download the transcoded version without waiting all day.
Brutal, nearly the lowest since 2008. Makes me want to buy in at this point.
Edit: I bought a few shares, so now they’re sure to go bankrupt by tomorrow.
Edit 2: ayyy did I actually catch a falling knife for once? It’s still going up after hours.
The market does tend to overreact so this is possible a sign to buy low. I can’t be bothered to check the fundamenals but it seems unlikely that amd is a better investment long term. If you are not looking at least 5 years to the future stocks are a bad idea.
OTOH: Boeing. Had the 737 Max bug been a one-off incredibly bad fuck up, they would have been a good buy. Then it turned out that that bug was just the first sign of many deep seated issues with their production process. Boeing 100% deserves everything they’re getting. Management skipped right over lawful, chaotic, and neutral evil and went into stupid evil, and decided that sacrificing QC/QA on aerospace equipment would be a great way to get returns for shareholders.
They didn’t skip those steps. The market just ignored the fact that they’ve been stepping through those options for the last 30 years because that’s what the market as a whole has been doing. As cliche and annoying as it sounds, this is exactly what late stage capitalism looks like. Once growth through sales becomes difficult, usually from approaching monopolistic size in a market, they only have two options left. They can either cut corners and headcount to save on operational expenses or they can decrease revenue growth. Considering the fact that the central thesis of our economy is the idea that infinite growth is not only possible but the only valid pursuit of any corporation it’s easy to guess what they’re going to do when faced with declining sales or any other detriment to growth.
Fundamentals: Intel powers the US military industrial complex, they’ll weather this storm.
AMD is super hot right now. Not in a good way.
I bought AMD at $8/share (and am still holding it), and I’m getting a similar vibe from Intel now…
I bought AMD at $8/share (and am still holding it)
Wow, I’d have dropped that hot potato ages ago.
I am glad I didn’t lol. Still not, the datacenter GPUs are something else, and so is their multi-chip design prowess.
Don’t worry, tomorrow the market is closed!
I found Jim Cramer.
More than that, for years their CPUs have been eating more and more watts and the electricity prices went up… Just keep them on par with AMD CPUs… But still , most default to Intel…
And people will continue to buy the 14900k and have the shocked pikachu face.
Well a lot of products have these things in them and a lot of people have no clue they are getting sold a defective product. This is all on intel, do not blame the customer because the big corporation is selling defective goods.
More than that, for years it has been eating more and more watts and the electricity prices went up… But still , most simp for Intel 💀
🙄 not everyone is a cs nerd. Jesus some good victim blaming here lol
They aren’t victims they’re rubes lol
- glad I just went with AMD. Dodged a bullet.
- Man that 11 billion they just got from us, so hot.
But think about all those stock buy backs.
Didnt they spend 40 billion last ten years?
How much is federal government giving them?
Asking for a friend.
Disgusting welfare queens
And some moron on Wallstreetbets just invested his $700k inheritance in shares yesterday. He’s -200k rn
The stock market is the least stupid way to be addicted to gambling but it’s still one of the dumber addictions to develop.
It’s not everyday that I’m thankful that grandma didn’t leave me $700,000 but today is one of those days
Ugh, I got a fair return from buying to AMD right before Ryzen came out. I sold some of it and bought multiple different chip companies so now I have some AMD, some Intel, some NVDA. Oh well, it’s not a huge amount but still sucks. I hope they can come back if only because AMD needs competition to keep them from becoming the evil that old Intel was. I was hoping Intel would also be a viable third GPU competitor, I like my Arc A770 for the price and I’m hoping they don’t kill off the GPU division.
I was going to make bank with NVDA then it started to fall. Lost half of my profits and then decided to sell everything. I’m glad I did. In going to wait for some good news before reinvesting.
I think suspending the dividend is worse than the layoffs for INTC, since it used to be a boring boomer blue chip divvy type thing to hold and DRIP
Ugh, I hope Loongson becomes competitive soon. If AMD gets a monopoly, cpu technology is going to get stagnant. And not decrease in cost.
It’s true, but Intel fucked around for years and now they’re finding out. I’m happy to watch them stew for a year or so before getting back on their feet.
I wonder if that guy who bet his inheritance from WallStreetBets is ok…
As someone with no inheritance now or ever, it’s hard for me to imagine it as anything but fuck around money. I’m sure he’s fine.
Like he’ll be fine but psychologically thats gotta be tuff. Shoulda thrown it in index funds or some guranteed instrument
SOXX
And to think I grew up at a time when Intel reigned supreme. My my.
I grew up in an era where IBM reign supreme.
A decade ago, it dipped to 1990s level but now it’s pretty up there in value again.
I don’t understand tech company stocks at all.
Time to buy?
I’m pretty sure the US gov views them as too big to fail. Surely they can’t mess up Xe, Falcon Shores, and the foundry business, right?
RIGHT!?
They could, but the US government has a strong interest in keeping them around. Not only do they do a huge amount of development, and not just on CPUs, but they also have the largest share of government purchasing by far.
I bought AMD at $8 a share (and still hold it, and Xilinx that got folded into it), and I am buying some Intel soon.
The price is right.
I may be an idiot, but I was right once.