Intel shares plunge over 10% as sales fall short of estimates

The company employs 5,000 people in Ireland

Intel also is contending with a slowdown in programmable chips and components for self-driving vehicles, and a fledgling business that makes semiconductors for other companies has not yet taken off.

Shares in Intel, which employs 5,000 people in Ireland, plunged more than 10%, renewing doubts about a long-promised turnaround at the once-dominant chipmaker.

Intel’s first-quarter projection for both sales and profit came in well short of Wall Street estimates, and executives struggled to soothe concerns during a conference call with analysts.