Intel Slides After CEO Struggles to Show Turnaround on Track

Intel Corp. shares fell after CEO Lip-Bu Tan's comments raised doubts about the company's turnaround efforts. Tan, who took over as CEO in February, struggled to convince investors that Intel is on track to regain its technological leadership in the semiconductor industry. The company's focus appears to be more on cost-cutting measures rather than investing in research and development to improve its chip-making capabilities. This has raised concerns among investors about Intel's ability to compete with its rivals, who have been making significant strides in chip technology. The decline in Intel's stock price reflects the market's uncertainty about the company's future direction and its ability to execute a successful turnaround strategy. Investors will be closely watching Intel's upcoming financial results and any further updates from the company's management to gauge the progress of its transformation efforts.