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Intel's Battered Bulls Find Hopes Dashed Again After Huawei Ban [BNN Bloomberg (Canada)]
Last nvidia corporation earnings: 2/13 04:20 pm
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US:NASDAQ Investor Relations: investor.nvidia.com/home/default.aspx
After a 90% rally in its shares last year, the chipmaker hit another snag in its years-long effort to turn around its operations as it said a US ban on chip exports to Huawei Technologies Co. would pressure revenue. The statement, which knocked the stock to its weakest close in almost a year, was the latest in a seemingly endless drumbeat of bad news, testing the patience of those who hope Chief Executive Officer Pat Gelsinger can deliver on his vision. Gelsinger's efforts to turn Intel into a foundry — a company that sells outsourced chip production to outside customers — is proving an uphill slog for the firm. A torrid stock rally in 2023 on the back of those turnaround hopes has turned into a 40% slump this year, as investors come to grips with how expensive the strategy will be and how long it may take. Shares were up 0.3% on Thursday. The question shareholders might be asking: why punt on a costly and risky turnaround at Intel when rival Nvidia Corp. is already cashing in
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