Intel Delays Construction Of Ohio Chip Plant


(MENAFN- Baystreet) IES Falters on Reporting for Q1

  • Amazon's Stock Rises 6% On Strong earnings And Outlook
  • Synchron Gains on Buying into Acquandas
  • Peloton Forecasts Widening Losses In The Year Ahead
  • Qualcomm's Earnings Beat On Top And Bottom Lines Previous Articles Subscribe to Get Small Cap News & Alerts Baystreet Staf - Friday, February 2, 2024

    Intel Delays construction Of Ohio Chip plant Intel (INTC) is delaying construction of a new $20 billion U.S. microchip and Semiconductor manufacturing plant in Ohio due to weak market conditions.
    Specifically, the company said that the plant's construction is being put off amid ongoing market challenges and because it is having difficulty securing U.S. grant money for the project.
    Intel had previously expected to have the Ohio plant up-and-running in 2025. Construction on the manufacturing facility has now been pushed back to late 2026.
    The microchip and semiconductor company recently issued financial results for the fourth quarter of 2023 that missed Wall Street targets and lowered its forward guidance.
    Intel said that it is grappling with a slowdown in demand for its microchips, particularly in the personal computer (PC) and laptop segments.
    Intel is also losing market share to competitors such as Nvidia (NVDA) and Advanced Micro Devices (AMD) in its traditional server chip and data centre business units.
    The stock of Intel has declined nearly 10% so far in 2024, with most of that decline coming after the company's Q4 2023 results were released in late January.
    Intel's share price is up 44% over the last 12 months and currently trading at $43.36 U.S. per share.





    • About Us
    • Contact Us
    • Advertise
    • License Our Content
    • Jobs
    • Disclaimer
    • Privacy Policy

    Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks

    MENAFN02022024000212011056ID1107803609


  • Baystreet.ca

    Legal Disclaimer:
    MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.