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Earnings Special: Intel Plunges on PC Sales Slump & Amazon Slips
Intel plunged in late trading after its revenue forecast missed analysts’ estimates, hurt by sputtering demand for PC processors and supply-chain problems with its lucrative data center components. The shares plunged in extended trading as much as 17%. The stock had gained 5.6% this year through Thursday’s close.
Meanwhile, Amazon shares dropped after the company reported greater capital spending than anticipated and the slowest growth in the core e-commerce business in three years.
For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec…
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