Intel Corporation (INTC) Foundry Model Failures Case

• $INTC stockholder filed a claim vs.Intel Corporation for overstating its Foundry model’s financial results and prospects in 2023-2024.

• On April 3, 2024, on 2023 financials’ restatement news, $INTC fell 8.2%, losing 15.3B+ of shareholder value.

• Then on April 26, 2024, on Q1’24 results, $INTC fell 9.2%, losing 13.7B+ of shareholder value.

• Intel investors can join this case to be notified about potential recovery.

On April 2, 2024, Intel (INTC) announced a retrospective revision of financial results, with the Foundry segment showing operating loss of $7B on sales of $18.9B in 2023, 2023 Foundry revenue of $18.9 billion down $8.6 billion from 2022, and portion of the loss was driven by lower internal revenue.

On April 25, 2024, Intel released its Q1’24 financial results, revealing the Company’s Foundry segment 10% decline compared to Q1’23, to a revenue of $4.4 billion.

Considering all the representations, investors have reasons to suspect that Intel Corporation overstated financial results and prospects of its Foundry model.

One of the investors has already filed a class action against the Company in N.D. of California court for failing to timely disclose the setbacks of its Foundry model’s operation.