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May 14, 2024 422

Intel shares fell 31% in April, the biggest drop since June 2002

#Fintech

Intel's stock price fell 31%, its biggest drop since June 2002.

Intel's quarterly report was released last month, and the market reaction from that event has had time to materialize. But if we look at April as a whole, it was the worst month for the company's stock in 22 years. Intel's stock price fell 31%, its biggest drop since June 2002.

Since the beginning of this year, the company's shares have fallen by 39%. That makes it the worst-performing issuer in the SOX index, which fell 4.7% in April but is up 12% year-to-date. Of course, in Intel's case, the bulk of the drop in stock price happened last week when the company's quarterly report was released revealing its financial woes.

Intel's revenue is forecast to grow 4.2% this year after last year's 14% decline. Next year, revenue is expected to grow 12%, which would be the best performance since 2018, if that happens, of course. In any case, for now, most analysts are holding back on buying Intel's stock, as its road to recovery will be long and bumpy.