April 20, 2024 4:06 am
Operating Loss of $7 Billion Reported by Intel’s (NASDAQ:INTC) Foundry Business

In 2024, Intel’s Foundry business is expected to experience its highest operating losses, but the company aims to achieve break-even operating margins by 2030. 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.

Intel recently reported that its Foundry business faced an operating loss of $7 billion in 2023, compared to $5.2 billion in the previous year. 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 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.

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