The cooling of the semiconductor market is happening faster—and proving colder—than companies might have expected, as chip firms across the board face a tougher market due to a combination of excess inventory at retailers and a cooling market for consumer electronics.
The latest company to feel the chill is Intel, which reported fourth-quarter revenue of $14 billion on Thursday, down 32% year-on-year and below analyst expectations. The U.S. chipmaker also reported a 20% drop in full-year revenue at $63.1 billion, coming in below its Taiwanese rival, Taiwan Semiconductor Manufacturing Corporation (TSMC), for the first time, notes Bloomberg.
