Intel and Snap post a surprising slump on Wall Street

Stock Market – Arrow Graph Going Down on Blue Display

The week ends with a surprising one thud on Wall Street per Snap, the company to which the Snapchat app belongs, ed Intel. The two companies have to deal with the uncertainties for the future that have had obvious consequences on the stock on the stock market in these hours. The financial data for the third quarter of 2021 therefore had a really significant impact (negatively) for both Snap and Intel.

Intel and Snap collapse on Wall Street

Snap, the company that runs the popular app Snapchat, he scored a drop of -22% of its value (this is the most marked decline since 2018). The figure is linked to the latest quarterly report which showed revenues below expectations. It should also be noted that Apple’s new policies in terms of data collection that could affect advertising revenues weigh on the future of Snapchat.

Intel is also down

In home Intel, on the other hand, the quarter ended with revenues up (+ 5%) but less markedly than expected due to the chip crisis. For Intel, as for Snap, there is a sharp decline on Wall Street. The American giant is down by -11%. It should be noted that the forecasts for the future are also negatively influencing the company’s results. Over the next few years, Intel warns investors that profitability could be affected by high spending plans.