• Sat. Apr 20th, 2024

Intel’s $7 Billion Operating Loss in 2024: What it Means for the Foundry Arm and Future Investment Opportunities

BySamantha Jones

Apr 4, 2024
Intel’s stock plunges 8% following substantial losses in foundry business

Intel’s shares fell 8% on Wednesday after the release of its long-awaited financials for its semiconductor manufacturing business in an SEC filing. The filing revealed an operating loss of $7 billion in 2024 for the foundry arm of the company.

This is the first time that Intel has disclosed revenue totals for its foundry business separately from its products business, which reported $11.3 billion in operating income in 2023. Intel expects its foundry losses to peak in 2024 and break even by the end of 2030.

Despite the challenges ahead, both Cantor Fitzgerald and Stifel analysts are cautiously optimistic about Intel’s future. They recognize the long-term nature of Intel’s plans and suggest that investors consider other AI-focused companies like NVDA and AMD in the shorter term.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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