Intel Corp shares tanked on Friday after disappointing Q2 earnings. Analysts have mixed views on the company's competitiveness.

Intel (INTC) reported quarterly sales that exceeded analysts' expectations, but posted a loss as the chipmaker works to turnaround its business. Second-quarter revenue of $12.86 billion topped projections as Intel's foundry business grew 3% to $4.

Intel (INTC) reported a second quarter adjusted loss of $0.10 per share. The expectation was for a profit of $0.01 per share. Revenue was $12.86 billion versus a Bloomberg consensus estimate of $11.88 billion.

Intel is going to end the year with a workforce that is over a fifth smaller than last year, it said on Thursday, and new CEO Lip Bu Tan presented a blueprint for a more cost-disciplined, streamlined chipmaker that would issue “no more blank checks.