Intel Gets Sued over 6 to 12 month 7nm Delay

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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

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