The chip shortage of recent years has turned into a chip surplus at chip and processor manufacturer Intel. Chip sales have plummeted. As a result, stocks are growing, resulting in poor sales and profit figures.
Intel is one of the major manufacturers of computer processors. During the corona pandemic, people suddenly bought a lot of computers to work at home. At the same time, strict lockdowns brought global transport to a standstill. This resulted in a chip shortage.
Now that the corona pandemic is over, the demand for new computers has fallen sharply. As a result, Intel sold significantly fewer chips and stocks are increasing. That surplus costs the company a lot of money, because chips quickly fall in value.
Intel had a turnover of 11.7 billion dollars (10.6 billion euros) in the first three months of this year. That is 36 percent less than the $18.4 billion in the same period last year.
Turnover fell so hard that Intel even ended up in the red. The company posted a loss of $2.8 billion. That is a decrease of 134 percent compared to the first three months of 2022, when the processor manufacturer still made a profit of $ 8.1 billion.
Also in the second quarter, Intel does not expect to increase its profit. The company says it will continue to invest heavily to get back on top, but that will be at the expense of profitability for the time being.
2023-04-28 07:11:42
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