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It’s been a rough year for the semiconductor giant, and unlike some other companies, Intel can’t put all the blame on COVID-19. In July 2020, Intel shocked the tech industry when it said it would delay a long-awaited upcoming 7-nanometer computer chip owing to manufacturing problems. The surprise postponement spooked investors, who were already worried that the company was lagging competitors like Taiwan Semiconductor Manufacturing Co. In early 2021, former VMware CEO Pat Gelsinger became Intel’s new top boss—a homecoming of sorts, since Gelsinger previously worked at the chipmaker for 30 years. Now, investors are hoping Gelsinger will be able to pull off a turnaround.
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