Technology giant Intel (NASDAQ:INTC) initiated a new round of job cuts this week, impacting an undisclosed number of employees in its sales and marketing unit. The Intel layoffs have occurred during the same week that management announced a new financial reporting structure. While the innovation space has flourished, INTC stock has struggled this year following a poor outlook for its core business.According to a CRN report, an Intel spokesperson confirmed that it made job cuts as part of a reorganization. B ...

Intel's foundry business had a substantial operating loss in 2023 and is expected to worsen in 2024.In today's video, I discuss recent updates impacting Intel (INTC 0.68%). Check out the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were the after-market prices of April 3, 2024. The video was published on April 4, 2024. ...

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Intel shares fell almost 8% on Wednesday after the company disclosed long-awaited financials in an SEC filing for its semiconductor manufacturing, or foundry, business, revealing an operating loss of $7 billion in 2023.It was the first time Intel had reported revenue totals for its foundry arm alone, separating it from the products business, which reported $11.3 billion in operating income in 2023.Intel said Tuesday that it expects its foundry losses to peak in 2024 and break even halfway between the curren ...

Intel Corporation (INTC) recently revealed its initiatives to revamp its financial reporting structure, reflecting the company’s transition to a foundry operating model. This strategic move is geared toward driving cost discipline, enhancing profitability and creating value for shareholders in the rapidly evolving semiconductor market.Effective from the first quarter of 2024, the new reporting framework is designed to provide more clarity and transparency regarding the company's operating segments and finan ...

Intel shares fell 7% on Wednesday after the company disclosed long-awaited financials in an SEC filing for its semiconductor manufacturing, or foundry, business, revealing an operating loss of $7 billion in 2023.It was the first time Intel had reported revenue totals for its foundry arm alone, separating it from the products business, which reported $11.3 billion in operating income in 2023.Intel said Tuesday that it expects its foundry losses to peak in 2024 and break even halfway between the current quart ...

Shares of the chip stock fell after it revealed a wide loss in its foundry unit.Shares of Intel (INTC -7.20%) were moving lower today after the chipmaker revealed in a filing that it's losing billions of dollars in its foundry business.Intel had not previously disclosed those losses in such detail, and the update showed significant challenges in a business that many believe could be a growth opportunity for the company.As of 11:12 a.m. ET, the stock was down 6.7% on the news. Intel's foundry won't be its sa ...

Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) is in the green on Wednesday after a Bank of America analyst issued a bullish note in its favour.Is TSM stock worth buying in 2024? Copy link to section Brad Lin recommends buying TSM stock even though Intel announced plans of cutting its reliance on outsourced wafers to about 20% (previously at 30%) this week. But the BofA analyst is not convinced that $INTC can deliver on its ambitious plans for its foundry business. In fact, that segment lost about ...

Intel (NASDAQ:INTC) stock fell 5% overnight after the chipmaker reported a $7 billion loss for its foundry business. The chip company has been trying to “re-shore” manufacturing to the U.S., but it has suffered several setbacks.INTC stock was selling for $41.40 per share before the market opened, its market cap falling below $176 billion. As of this writing, it is currently down 6.5% for the day.Gelsinger’s LawIntel CEO Pat Gelsinger made a huge bet on chip manufacturing when he returned to the company in 2 ...

Intel's goals are ambitious, but they come at a cost.In this video, I will talk about the recent comments Intel's (INTC -6.71%) CEO Pat Gelsinger shared with investors about the company's future.*Stock prices used were from the trading day of April 2, 2024. The video was published on April 3, 2024. ...