Intel Floundered Amid Foundry Hopes: What Happened?


(MENAFN- Baystreet) Collective Audience Takes off on Insticator Link

  • Cardio Hikes on Results Reveal
  • These Pharmaceutical Firms are on Sale: AbbVie, Pfizer, and Gilead
  • Paramount Global Stronger on Hints of Sacking CEO
  • Domino's Pizza Beats Earnings Forecasts As Sales Accelerate Previous Articles Subscribe to Get Small Cap News & Alerts Chris Lau - Monday, April 29, 2024

    Intel Floundered Amid Foundry Hopes: What Happened?

    Semiconductor investors who shunned Nvidia (NVDA), Arista Networks (ANET), ASML, and AMD (AMD) and bought Intel (INTC) paid a steep price. Shares fell by around 10% to close at $31.88 last Friday.

    The company posted a decent profit of 18 cents a share (non-GAAP) as revenue increased by 8.5% Y/Y to $12.7 billion. However, Intel expects to lose 5 cents a share in the second quarter.

    Shareholders are worried about the mixed Q1 performance. Client Computing revenue grew by 30% but Data Center and AI of $3 billion is a 19.4% Y/Y drop. Network and Edge and Mobileye revenue also fell.

    The company is ramping up deliveries of chips that power AI systems. The inexpensive hardware will compete for customers at the budget and low end. Conversely, AMD has the MI300 solution, while Nvidia customers want the H100 and B200 AI servers.

    Turnaround Lags

    Holding the CEO position for three years, Intel has yet to show its fortunes are turning around. The business rebound depends on starting a foundry from the ground up. This competes with the dominant leader, Taiwan Semiconductor (TSM).

    Bankruptcy is highly unlikely. The company has plenty of government subsidies and tax credits.

    Your Takeaway

    The return of the PC refresh will benefit Intel's Client division. If it executes its AI and server roadmap, the stock could rebound toward the latter half of 2024.





    • 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

    MENAFN29042024000212011056ID1108151771


  • 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.