Premier CPU maker Intel (opens in new tab) had a bad 2022, ending with its worst quarter since the apocalyptic days of the dot-com collapse in 2000. Industry analysts, already frustrated with Intel's performance, say 2023 could be equally tough for the company; the company's market value has fallen by $8 billion due to its poor performance at the end of 2022 and its low forecast for 2023.

In other words, Intel is having the kind of year where the red line on the money chart is taking a dive.

"There are no words to describe or explain Intel's historic collapse," analyst Hans Mosesmann told US News. (opens in new tab)

'Why has it happened' As complicated as this guy says, the current downturn in the PC market is a major reason. As a result, there is a large surplus of chips (opens in new tab) in inventory, and Intel's customers are not going to buy much new stuff until it is sold. Intel's CEO now says that PC market sales will be nearly 100 million units lower than projected.

Intel's multi-year slump also comes alongside the rise of huge rivals outside the space gamers have in mind: just as AMD and Nvidia have taken Intel's share in other areas, TSMC has also emerged to compete in the manufacturing arena.

Still, Intel could do better than expected. Some analysts say so (open in new tab), even if Intel CEO Patrick Gelsinger admits the company is underperforming and has lost important market share to AMD. This powerful Intel source,' Gelsinger said, referring nonetheless to the company's plans to offer ever-improving chip technology and reiterating its commitment to release "five nodes in four years" and a Meteor Lake processor in late 2023. (Open in new tab) [11]