BUZZ-Intel falls as quarterly forecast disappoints
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Intel's shares fell 7.4% after the company forecasted lower Q2 revenue and profit than expected. The weak demand for traditional data center and PC chips, as well as competition in the AI components market, are contributing factors. However, management remains confident that profitability will improve in the second half of 2024. Intel's stock is on track for its biggest monthly loss since January 2008, while rival Advanced Micro Devices (AMD) is up 4.4% this year.
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