Intel(INTC)2024-12-12 19:11Key Points Company and Industry * Company: Intel Corporation (NASDAQ: INTC) * Industry: Semiconductor and Technology Core Views and Arguments * Leadership Change: Michelle Johnston Holthaus and David Zinsner have taken over as co-CEOs, emphasizing a focus on products and operational efficiency. * Outsourced Silicon: Intel plans to outsource more silicon in 2025 than 2024, with TSMC and Intel Foundry as potential partners. * Intel Foundry: The company is creating a subsidiary for Intel Foundry, with a separate operational board and ERP system. * Product Development: Intel is investing in new products and processes, including 18A, to regain market share and improve profitability. * Altera and Mobileye: Intel plans to sell a stake in Mobileye and engage with outside investors to take a stake in Altera. * Cost Reduction: Intel aims to reduce operating expenses and capital spending to improve profitability. * AI PC: Intel expects increased demand for AI PCs in 2025, driven by advancements in software and hardware ecosystems. * ARM and AMD: Intel acknowledges the challenges posed by ARM and AMD but remains confident in its x86 architecture and customer relationships. * Data Center: Intel plans to stabilize its data center market share loss and focus on building the right products to regain share. * AI: Intel is committed to investing in AI, with a focus on learning from its past experiences and iterating on its products. Other Important Points * Process Technology: Intel is investing heavily in process technology, with a focus on 18A and future generations. * Customer Relationships: Intel values its long-standing relationships with customers and aims to maintain and strengthen these relationships. * Investor Transparency: Intel aims to provide transparent communication with investors, focusing on meaningful milestones and achievements. * Competitive Landscape: Intel recognizes the competitive landscape in the semiconductor industry and is committed to staying ahead of the curve.