Fintel Stocks News Today

In an interview, Chief Executive Officer Pat Gelsinger said that the companys core businesses of PCs and servers were hitting seasonal low demand at the same time as noncore businesses such as auto chip firm Mobileye. Intel no longer gives full-year financial forecasts, but Gelsinger said the company has $2 billion worth of orders for its AI chips and expects better sales later in the year.

Intel has been greatly affected by the worldwide chip shortage, which made Intel stocks fall about nine percent. Aside from the tech sector, other industries have also been negatively hit by the issue.