Intel shares fell 4% in extended trading after the company reported that full-year operating losses for its semiconductor manufacturing business widened to $7 billion from the $5.2 billion loss reported in 2022. This is the first time that Intel has disclosed revenue totals for its foundry business alone. Intel has historically designed and manufactured its own chips, and only reported final chip sales to investors.
Intel has been pitching investors a plan where it would also start an external business to make chips for other companies. General Motors reported a 4.8% decline in first-quarter U.S. vehicle sales compared to a year ago, underperforming its rivals. The drop was largely due to a 22.9% year-over-year decline in sales to fleet customers even as retail sales to customers climbed 6%
Source: News Formal (newsformal.com)
Intel Shares Fall Losses Semiconductor Manufacturing Business General Motors Decline Vehicle Sales
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