No Widgets found in the Sidebar
Operating Loss of $7 Billion Reported by Intel’s (NASDAQ:INTC) Foundry Business

Intel, a chip maker, has recently announced that its Foundry business faced an operating loss of $7 billion in 2023, compared to $5.2 billion in the previous year. Despite this, the company aims to achieve break-even operating margins by 2030. However, before reaching this goal, Intel anticipates that its Foundry business will experience its highest operating losses in 2024.

To support its turnaround efforts, Intel plans to invest $100 billion in constructing and expanding chip factories in four U.S. states. This initiative is crucial for the company to attract clients and showcase its manufacturing capabilities.

On Wall Street, analysts have a consensus Hold rating on Intel stock, with seven Buys, 24 Holds, and four Sells assigned in the past three months. Despite a 35% increase in its share price over the past year, the average price target for INTC stock stands at $46.60 per share, indicating a 6.05% upside potential.

By Samantha Jones

As a dedicated content writer at newsaca.com, I bring a unique blend of creativity and precision to my work. With a passion for storytelling and a keen eye for detail, I strive to craft engaging and informative articles that captivate our readers. From breaking news to thought-provoking features, I am committed to delivering content that resonates with our audience and keeps them coming back for more. Join me on this exciting journey as we explore the ever-evolving world of news and information together.

Leave a Reply