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Stock impact report

‘There are no quick fixes': Intel's CEO gives Wall Street a reality check about the chipmaker's would-be turnaround [Yahoo! Finance]

Cadence Design Systems, Inc. (CDNS) 
Last cadence design systems, inc. earnings: 4/20 04:05 pm Check Earnings Report
Company Research Source: Yahoo! Finance
“There are areas we need to improve and there are no quick fixes,” Lip-Bu Tan warned on Thursday during his first earnings call after his hiring last month to revive the company. Succeeding with that mission, however, will be a huge challenge for Tan, who took over after his predecessor, Pat Gelsinger, was pushed out . Intel's troubles are years in the making after its executives were slow to realize the importance of chips specialized for artificial intelligence. Once they did, rival Nvidia was already well on its way to dominating the market for the brains fueling the recent tech boom. In the meantime, Intel's annual revenue has cratered more than 30% from its peak in 2022. And, over the past five years, investors have sent the company's stock tumbling by nearly two-thirds to the same level it was all the way back in 2012. Tan, once CEO of chipmaker Cadence Design Systems , didn't come to the first quarter earnings call armed with a detailed plan for his would-be turnaround. Show less Read more
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