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https://www.wsj.com/articles/intel-corp-intc-q1-earnings-report-2023-91aab8b3

Intel Earnings Headed for Largest-Ever Loss Amid PC Slump, Fierce Competition

Chip maker has embarked on cutting costs while pursuing pricey turnaround effort

April 27, 2023 12:00 pm ET

Intel has ruled the market for central processing units since the 1980s. But rival AMD overtook Intel in market value last year, thanks in part to an expensive bet on chip design. WSJ’s Asa Fitch explains the companies’ battle for the brains of your computer.

Intel Corp. is expected to report its largest-ever quarterly loss Thursday, driven by a sharp fall in personal-computer sales and rising competition.

Sales are expected to fall to a low not seen since 2010, with Wall Street expecting Intel to post revenue of $11 billion for the first quarter, according to analysts surveyed by FactSet. That would represent a 40% decline from the prior-year period.

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