Friday saw a decline in global semiconductor equities following a dismal set of results from American chipmaker Intel that sent its shares plunging and a sell-off in the global market that hurt some of the largest names in the computer industry.
As part of a $10 billion cost-cutting plan, Intel said that it would lay off nearly 15% of its workforce.
As a result, the company’s shares plunged 20.65% at 06:20 a.m.ET on Friday in premarket trading in the United States During Friday’s U.S. premarket trading, several significant U.S. chip names also declined.
Nvidia, for example, was down about 3.47% at 06:20 a.m. ET. A report from The Information that suggests Nvidia is under pressure to raise its stock price being looked into for antitrust by the US Department of Justice.
Source (CNBC)
