![]() ![]() ![]() The hope is to restore Intel’s technological edge and head off a growing challenge from Asian rivals. That includes a new factory hub in Ohio announced last week that could cost US$20 billion. Gelsinger, who took the helm last year, has embarked on an ambitious plan to overhaul Intel’s manufacturing. Though demand for server chips is helping bolster sales, the forecast adds evidence that profit is suffering from an Intel spending spree. ![]() Before the report, the stock had been outperforming those of its chip peers this year. Shares of the Santa Clara, California-based company fell as much as 7.4 per cent in intraday trading in New York. Gross margins also are tightening at Intel, once one of the most profitable companies in the industry. Analysts projected 86 cents a share on average. shares fell on Thursday after the company gave a disappointing profit forecast, fueling concern that Chief Executive Officer Pat Gelsinger’s costly turnaround plan will weigh heavily on the chipmaker’s financial performance.Įarnings will be 80 cents a share in the first quarter, excluding some items, Intel said Wednesday. ![]()
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