Wednesday, June 21, 2023

"Chipmaker Intel restructures manufacturing business" (INTC)

 Well that was quick, give that analyst a bonus.

From Reuters via Yahoo Finance, Wed, June 21, 2023 at 1:46 PM CDT:

Intel Corp said on Wednesday its manufacturing business will work like a separate unit and will begin to generate a margin, but gave no clear timeline on when it will start scaling up, sending the chipmaker's shares down about 5%.

The company also did not name a new external customer for the business as part of its foundry services, a key element of Intel's turnaround plans wherein it will offer its manufacturing services to other companies including its competitors.

Intel's internal business units will now have a customer-supplier relationship with the manufacturing business, Chief Financial Officer David Zinsner said on an investor call....


In "Chips: With All The Capital Expenditures, Intel May Be Setting Up For A Spin-Off (INTC)"  it was UBS analyst Timothy Arcuri on June 20. Posted here about three hours ago.

No spinoff yet but the fab/no fab division he was talking about is happening.