How innovation died at Intel: America's only leading-edge chip manufacturer faces an uncertain future and lawsuits [Yahoo! Finance]
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Source: Yahoo! Finance
Intel's ( INTC ) fall from grace seemed to happen all at once. Shares of the once iconic chipmaker plummeted 60% in 2024. The company posted the biggest loss in its 56-year history in its latest quarterly earnings report . Its market cap has dropped 80% since 2000 — when it was one of the most valuable companies in the world. In November, an ascendant Nvidia ( NVDA replaced Intel in the Dow Jones Industrial Average. A month later, CEO Pat Gelsinger resigned after taking the helm in February 2021. And on Wednesday the company was hit with yet another lawsuit filed by shareholders — this time seeking damages related to substantial losses from its struggling foundry division But company insiders and industry analysts tell Yahoo Finance that Intel's dramatic crash is the result of a slow deterioration spanning more than two decades. “They had a God complex; they were super arrogant,” a former high-level executive who worked at Intel for more than 20 years told Yahoo Finance. “The
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