The recession is not only making itself noticeable at Tesla, but also at Intel and AMD. Shocking quarterly results force the CEOs of AMD and Intel to take cost-cutting measures.
After missing sales expectations: Warning for the PC market; Image: Getty
After Intel and AMD failed to meet expectations, tech stocks crashed dramatically. The reason for this were lower sales than expected. Therefore, Lisa Su, CEO of AMD, and Pat Gelsinger, CEO of Intel, have issued a warning.
Pat Gelsinger told his investors that the PC market could fall 10% this year with an improvement in the fourth quarter. Lisa Su has a similar view. She has said that the market could fall by a double-digit percentage this year.
The reason for these declines is predominantly the recession that the whole world is in. Interest rates have been raised, the desire to buy something has been reduced, jobs have been cut and high inflation is also causing problems for companies.
