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‘Intel shares fall after company reveals $7 billion operating loss in foundry business”

Intel shares fell 4% at one point in extended trading Tuesday after the company revealed long-awaited financials for its semiconductor manufacturing business, commonly called the foundry business, in an SEC filing.

Intel said its foundry business recorded an operating loss of $7 billion in 2023 on sales of $18.9 billion. That’s a wider loss than the $5.2 billion Intel reported in its foundry business in 2022 on $27.5 billion in sales…”

https://www.cnbc.com/2024/04/02/intel-shares-fall-after-company-reveals-7-billion-operating-loss-in-foundry-business.html

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