Prior to 2024, Intel's worst year on the market was 1974, when the stock sank 57%.
The seeds for the company's latest stumbles were planted years ago, as Intel missed out on mobile chips to Qualcomm, ARM and Apple.
Rival AMD started taking market share in the critical PC and server CPU markets thanks to its productive manufacturing relationship with Taiwan Semiconductor Manufacturing Company. Intel's manufacturing process has been a notch behind for years, leading to slower and less power-efficient central processing units, or CPUs.