Posted 4/2/2024, 9:50:22 PM
Intel Foundry Business Operating Losses Mount, Aims for Break-Even by 2030 Despite Major Factory Investments
- Intel's Foundry business saw a $7B operating loss in 2023, increased from $5.2B loss in 2022
- Intel aims for Foundry business to reach break-even operating margins by 2030
- Highest operating losses for Foundry business expected in 2024
- Intel plans to invest $100B in new chip factories across 4 U.S. states
- Analysts have a Hold rating on Intel stock with a $46.60 average price target
