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Intel Gets Sued over 6 to 12 month 7nm Delay
Last week Intel took a turn downwards in share prices when they announced that their 7nm products will be delayed by another 6 to 12 months. It seems that investors are fed up with it, and now are suing Intel for not disclosing the delay sooner then they did.
As a result, the share prices which were close to 60 USD a month or so ago, now have dropped below the 50 USD marker at 48 USD. It seems investors are losing patience and faith in the company. Law firm Hagens Bermans who represents the investors, Intel has misrepresented progress around 7 nanometers and therefore did not give investors a fair portrayal of the state of affairs. Intel's competitor AMD has already been active on the 7nm node ever since the 7th of the 7th last year.
The chip manufacturer previously indicated that the production process had to be operational by 2021. However, this will now be delayed for six to twelve months. In a market study by Bernstein Research concluded that the recently released quarterly report was "the worst report Intel has released in 42 years." Intel's share price has fallen more than 20% since last week.
Sources: Newsfile , Tom's Hardware via hardware.info
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tsunami231
Senior Member
Posts: 13532
Joined: 2003-05-24
Senior Member
Posts: 13532
Joined: 2003-05-24
#5813640 Posted on: 07/30/2020 06:47 PM
what? I think the stupid thing I heard for being sued
Ouch.
When it hurts, it GigaHURTZ.
I have a feeling it will become much worse for them before it gets better.
might be good time think about buy Intel stock , before the bounce back? I been toying with notion for buy AMD and Intel Stock for while. buy AMD is alot more feasible for me though
what? I think the stupid thing I heard for being sued
Ouch.
When it hurts, it GigaHURTZ.
I have a feeling it will become much worse for them before it gets better.
might be good time think about buy Intel stock , before the bounce back? I been toying with notion for buy AMD and Intel Stock for while. buy AMD is alot more feasible for me though
The Laughing Ma
Senior Member
Posts: 4641
Joined: 2008-04-12
Senior Member
Posts: 4641
Joined: 2008-04-12
#5813641 Posted on: 07/30/2020 06:50 PM
So investors, the guys who are basically gambling on their cash increasing as a result of a company doing well are suing Intel because their 'gamble' wasn't a sure fire thing?
Have I missed something here is that not how investing in something works? You gamble to a degree on the thing you invest in doing well?
What would have happened if Intel had told them sooner, they wouldn't have invested or would have tried to pull their investments which would have had the same net effect. Does that mean that the investors who pull their cash last, when they get the smallest return, can then sue the investors who pulled their cash earlier for driving down Intel's share price?
So investors, the guys who are basically gambling on their cash increasing as a result of a company doing well are suing Intel because their 'gamble' wasn't a sure fire thing?
Have I missed something here is that not how investing in something works? You gamble to a degree on the thing you invest in doing well?
What would have happened if Intel had told them sooner, they wouldn't have invested or would have tried to pull their investments which would have had the same net effect. Does that mean that the investors who pull their cash last, when they get the smallest return, can then sue the investors who pulled their cash earlier for driving down Intel's share price?
D3M1G0D
Senior Member
Posts: 2068
Joined: 2017-03-10
Senior Member
Posts: 2068
Joined: 2017-03-10
#5813655 Posted on: 07/30/2020 07:52 PM
So investors, the guys who are basically gambling on their cash increasing as a result of a company doing well are suing Intel because their 'gamble' wasn't a sure fire thing?
Have I missed something here is that not how investing in something works? You gamble to a degree on the thing you invest in doing well?
What would have happened if Intel had told them sooner, they wouldn't have invested or would have tried to pull their investments which would have had the same net effect. Does that mean that the investors who pull their cash last, when they get the smallest return, can then sue the investors who pulled their cash earlier for driving down Intel's share price?
If it involves deception then a lawsuit is justified. Intel gave no indication that their 7nm process was in any kind of trouble and insisted it was on track. A 12-month delay doesn't just happen overnight - Intel must have known about these issues for a long time ago but kept silent until now.
So investors, the guys who are basically gambling on their cash increasing as a result of a company doing well are suing Intel because their 'gamble' wasn't a sure fire thing?
Have I missed something here is that not how investing in something works? You gamble to a degree on the thing you invest in doing well?
What would have happened if Intel had told them sooner, they wouldn't have invested or would have tried to pull their investments which would have had the same net effect. Does that mean that the investors who pull their cash last, when they get the smallest return, can then sue the investors who pulled their cash earlier for driving down Intel's share price?
If it involves deception then a lawsuit is justified. Intel gave no indication that their 7nm process was in any kind of trouble and insisted it was on track. A 12-month delay doesn't just happen overnight - Intel must have known about these issues for a long time ago but kept silent until now.
DownwithEA
Member
Posts: 54
Joined: 2017-05-30
Member
Posts: 54
Joined: 2017-05-30
#5813658 Posted on: 07/30/2020 07:58 PM
I haven't researched Intel but before jumping in I'd check the past quarterly revenue and Earnings Per Share over the past 3-5 years. If they are in a downtrend I'd be cautious. Personally I'd wait to see a positive reaction from Intel for shareholders and consumers. "the worst report Intel has released in 42 years." does not inspire confidence in me. Just my personal opinion. Meaning I could be totally wrong.
I haven't researched Intel but before jumping in I'd check the past quarterly revenue and Earnings Per Share over the past 3-5 years. If they are in a downtrend I'd be cautious. Personally I'd wait to see a positive reaction from Intel for shareholders and consumers. "the worst report Intel has released in 42 years." does not inspire confidence in me. Just my personal opinion. Meaning I could be totally wrong.
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Senior Member
Posts: 1766
Joined: 2008-07-16
Ouch.
When it hurts, it GigaHURTZ.
I have a feeling it will become much worse for them before it gets better.