Intel Stock Dives As Chipmaker Changes Reporting Structure: Takeaways From 6 Analysts
Portfolio Pulse from Priya Nigam
Intel Corp (NASDAQ:INTC) shares dropped following the announcement of a new reporting structure and a $7 billion loss in its foundry business. Analysts from BofA Securities, Wedbush, Cantor Fitzgerald, Benchmark, Truist Securities, and Oppenheimer provided mixed views, with concerns about competition, profitability, and the ambitious targets for 2030. Intel aims to improve margins by shifting to leading-edge manufacturing and has secured a $15 billion deal value with external customers for its Foundry business.
April 03, 2024 | 4:19 pm
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Intel's announcement of a new reporting structure and a $7 billion loss in its foundry business led to a 7.11% drop in its shares. Analysts have mixed opinions on the company's future profitability and competition challenges.
The significant loss in Intel's foundry business and the change in reporting structure have raised concerns among investors, leading to a sharp decline in stock price. Analysts' mixed views on the company's long-term targets and profitability further contribute to the negative short-term impact on the stock.
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