Semiconductor manufacturer Intel (INTC) reported second quarter earnings that fell short of estimates on its top and bottom lines. It also announced plans to lay off 15,000 workers as part of a $10 billion cost-cutting strategy.

"Part of the problem with Intel is that if they get things right, you really are looking at two, three years out when they see the fruits of their investment," Wedbush Securities SVP of Equity Research and Hardware Matt Bryson tells Market Domination Overtime, going on to call Intel's race to catch up with rival Taiwan Semiconductor Manufacturing Company (TSM) "a 2026, 2027 story."

Bryson goes into detail on Intel's longer-term prospects and what cost reductions will do for the chip company.

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This post was written by Luke Carberry Mogan.