Intel Cofounder Gordon Moore’s Fortune Falls $1 Billion After Chip Firm’s Disappointing Earnings

Justin Sullivan/Getty Imagesstock plummeted on the back of disappointing third quarter earnings. net worth

by $1 billion, to $9.9 billion. The 91-year-old tech entrepreneur still owns around a 4% stake in the company . Intel’s stock plunged following mixed third quarter earnings, announced Thursday after markets closed. . Although the company’s earnings were mostly in line with analyst expectations, the numbers disappointed investors, however, who sold off shares en masse on Friday. The company’s revenue of $18.

. Intel’s Data Center Group, which derives revenue from businesses and government customers, pulled in$5.91 billion in revenues in the quarter, a 7% drop that came in below estimates of $6.21 billion, according to analysts surveyed by FactSet. downgraded Intel on Friday to an “underperform” rating following the earnings report, adding to the stock’s weakness. The bank warned investors that the company faces “rising challenges on multiple fronts.

skleb1234 The Moore's law eventually reaches a limit - there's only so much money in being paranoid

skleb1234 Boomer

skleb1234 AMDomination

skleb1234 Farhaan_Hasan

skleb1234 😔😔

skleb1234 RIP Gordon's $1B. Also 223,602 Americans have died from Coronavirus.

skleb1234 Lost a billion a day and doesn't even notice!

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