Intel shares fall 4.89% after-hours as CEO forecasts weak revenue amid trade tensions.

Intel Corporation dropped 4.89% in after-hours trading, with the company forecasting weak revenue for the second quarter, citing trade tensions and a challenging market environment. Intel's new CEO, Lip-Bu Tan, faces significant challenges in turning around the company's fortunes, with investors expressing pessimism over the company's ability to gain a foothold in the booming AI market. The company also announced plans to streamline its business by cutting management positions, which may further impact investor sentiment.