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What is going wrong for Intel?
The giant chipmaker has shed $40bn in market value in a day
On August 1st Intel released a dismal set of results. “Our costs are too high, our margins are too low,” wrote Pat Gelsinger, its chief executive, in a note to employees. As a consequence, Intel plans to slash 15,000 jobs and to suspend dividends, which it has paid since 1992.
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