Intel shares plunged nearly 10 percent before the bell. Intel announced its 2022 fourth quarter and full-year results in the early hours of Beijing time, and its fourth-quarter results failed to meet market expectations, plunging 32 percent. Recorded the lowest quarterly revenue in 2016.
At the same time, Intel gave pessimistic guidance for the first quarter market performance. The company expects first-quarter adjusted revenue between $10.5 billion and $11.5 billion, significantly lower than market expectations of $14 billion; adjusted gross margin is expected to be 39% in the first quarter, compared with 45.5% expected.
As a result, Intel’s pre-market share price plunged. Intel’s pre-market offer $ 27.05 per share, about 10.10% down, the current market value of $ 124.181 billion.
By way of comparison, both AMD and Nvidia are down, with AMD down about 3.03% to a market cap of $121.185 billion and Nvidia down about 2.28% to a market cap of $487.129 billion.
