Msg. 57432 of 60008 (This msg. is a reply to
57425 by
De_Composed)
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Last week I saw a report about intel getting $8.5 BILLION DOLLARS from Biden’s Chips & Science Act.which was suppose to create 10,000 new American jobs at Intel. Instead Intel lays off 15,000 employees.
Stock guy on Fox business mentioned Intel as a buy yesterday.
(NASDAQ: INTC) has been moving in the wrong direction so far in 2024, with the stock losing more than half its value year to date.
Management is reportedly open to radical steps to reverse the decline, and investors are taking notice. Shares of Intel were up 8% as of 10:30 a.m. ET on news that the company has hired bankers to assess options to kick-start growth.
It's been a tough few years for Intel. The once-storied semiconductor maker has lost ground to Nvidia and others, leading to a series of restructuring efforts that so far have not had the desired impact.
On Friday, Bloomberg reported that Intel has hired advisors including Morgan Stanley and Goldman Sachs to formulate options. The company is said to be considering various scenarios, including splitting its product design and manufacturing businesses, as well as scrapping certain factory projects.
The report said that no big move is imminent, and that discussions are in their early stages. Management intends to present different options to the board during a regularly scheduled September meeting.
Intel definitely needs to take a hard look at its operations, but investors hoping for radical change are likely to be disappointed. The report says the company is likely to initially focus not on divestitures and breakups, but rather on holding off on expansion plans to conserve cash.
It is good that CEO Pat Gelsinger and the rest of the management team realize that the status quo is unsustainable. But until there is a clear plan for how to proceed from here investors should remain cautious about buying into Intel.
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