Shares of the chipmaker just fell on multibillion-dollar foundry losses.Intel (INTC -2.57%) had its big coming-out party on Tuesday, but the chip stock didn't get the reception it expected.The company recast its financials to reflect that it sees its foundry as much more central to its business. However, investors were disappointed by the actual numbers, and share prices fell 8% on the news. Intel's restated financials showed that its foundry division had a $7 billion operating loss in 2023, which followed ...

Intel's big new gamble on making chips for its competitors is foundering.Shares of beleaguered semiconductor giant Intel (INTC -2.88%) tumbled for a fourth straight day on Friday, falling 2.3% through 10:15 a.m. ET as investors continue to digest the news that Intel lost $7 billion building semiconductor chips for its competitors last year. And Wall Street isn't helping matters much.Adding insult to injury, this morning, investment bank Bernstein commented that there is "no real reason to [own Intel stock] ...

Key PointsIntel's shares plunged after it reported a $7 billion operating loss in 2023 for its semiconductor manufacturing division, marking a significant downturn in its once-bullish trend.CEO Pat Gelsinger forecasts a turnaround by 2027 despite past missteps, aiming to reduce outsourcing and invest $100 billion in chip factories across the U.S.Institutional inflows into Intel remain impressive, with investments totaling $22.72 billion over the past twelve months, signaling continued confidence from sophis ...

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 ...