Intel's Foundry Unit Loss Widens, Sees Operating Loss Peaking In 2024; Stock Down

Intel Corp. shares were hit by wider operating loss in its chipmaking unit Intel Foundry for fiscal 2023, and the company's warning that the segment's operating losses are expected to peak in 2024. Intel shares fell more than 4 percent in extended trading on Tuesday on the Nasdaq Stock Exchange, as well as in pre-market activity on Wednesday.

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