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Intel's stock drops 30% overnight —company sheds $39 billion in market cap
Tough times ahead.
Intel's stock dropped around 30% overnight, shaving some $39 billion from the company's market capitalization since rumors of a pending layoff first emerged. To do so, it needs to persuade TSMC's customers to use Intel's technologies, which isn't easy given that the Taiwan foundry can efficiently produce chips with great yields. However, Intel could boost its balance sheet by $40 billion by 2025 through its current actions, subsidies, and partner contributions, ensuring its survival in some form.
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