On Friday, Intel shares tumbled 8.5% as remarks from CEO Lip‑Bu Tan prompted concerns that he’s emphasizing expense reductions at the expense of the company’s technical supremacy. In the Q2 earnings call,

Intel Corporation's latest Q2 earnings have embedded several bombshell updates to its turnaround strategy. Click here to find out why INTC stock is a Hold.

Intel reported second-quarter revenue of $12.86 billion, beating analyst expectations of $11.91 billion, according to Benzinga. The chipmaker posted an adjusted loss of 10 cents per share, missing the forecasted gain of one cent.

Intel (NASDAQ:INTC) served up mixed Q2 results with a flat $12.9 billion revenue beat the $11.88 billion consensus but adjusted EPS of ?$0.10 missed the $0.01 estimate as $1.9 billion in restructuring,

Intel’s plans appeared to deflate investors. Intel shares took a hit, with Intel’s market value showing a loss of $8 billion at one point, according to Reuters. Meanwhile, AMD is riding the AI wave to greater sales, and Nvidia’s value has exploded over the past few years, also thanks to its AI-friendly chips.

Intel's restructuring efforts focus on AI and core engineering. Short-term challenges persist, but a potential turnaround may emerge within 1-2 years. See more on INTC here.

Analyst Jeff Pu said that Apple could be among the customers considering Intel’s upcoming 14A process for future M-series chips.

Intel is planning to spin off its networking unit as the struggling chipmaker looks to shed assets and cut costs under the direction of new CEO Lip-Bu Tan, according to a Friday report.

The chipmaker plans to reduce headcount from 96,400 to 75,000 employees amid restructuring and steeper Q3 losses.

Intel Corporation, NVIDIA Corporation, ASML Holding NV, Target Corporation. Read 's Market Analysis on Investing.com UK.

Intel stock drops nearly 9% after Q2 earnings miss and major layoffs. Here’s what investors need to know as summer leads to fall.