In its latest earnings, Intel Corp. reported a net loss of $664M in Q4 2022 as it copes with increased competition and an ongoing slump in PC sales.   The U.S. semiconductor giant expects to face another shortfall in Q1 2023. The news caused Intel shares to open 10% lower on Friday. Intel's Q4 revenue of $14B represents a 32% decline year-over-year. The company's full-year revenue of $63.1B was down 20% YoY. Its Client Computing group brought in $6.6B for the quarter, less than the $7.4B expected by analysts. Overall, the unit's revenue for the period fell 36% YoY. Intel's Datacenter and AI business also took a beating, with revenue falling 33% year-over-year, from $6.4B to $4.3B. The company projects Q1 revenue of $10.5B to $11.5B, under the $14B anticipated by Wall Street. During Q4 2022, PC makers shipped 67.2 million computers, down over 28% from the same quarter in 2021, according to IDC data. Overall shipments in 2022 were down 15.6%. The numbers further confirm that the pandemic buying boom has ended as vendors deal with softened demand and higher inventory levels.