Intel Slumps After Chip Production Process Delayed Again
- Rival Advanced Micro Devices jumps in extended trading
- Intel CEO suggests company will outsource more production
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Intel Corp. shares slumped after warning about another production delay, sparking concern the world’s largest chipmaker will fall further behind rivals in a crucial area it once dominated.
At issue is a new method for cranking out smaller, more powerful chips, the timing of which “is shifting approximately six months relative to prior expectations,” the company said as it reported quarterly results on Thursday.