All articles tagged with #intel corp
Luxury stocks in Europe, including Kering SA, LVMH, Burberry Group Plc, and Christian Dior SE, faced losses after Kering warned about declining sales, raising concerns about high-end consumer spending in China. Treasuries and US equity futures remained steady ahead of the Federal Reserve meeting. Meanwhile, Intel Corp. saw a rise in premarket trading after securing nearly $20 billion in US grants and loans.
President Biden and Commerce Secretary Raimondo are set to announce a multi-billion-dollar grant for Intel Corp to expand chip production in Arizona next week, as part of the U.S. CHIPS Act's efforts to boost domestic semiconductor production. Intel, with facilities in Arizona, has invited stakeholders to the event, and the U.S. government has been working to increase domestic semiconductor production through substantial funding.
Intel Corp (INTC) reported a 10% year-over-year increase in Q4 revenue, reaching $15.4 billion, but experienced a 14% decline in full-year revenue. The company achieved $3 billion in cost savings in 2023 and provided a cautious outlook for Q1 2024, projecting revenue between $12.2 billion and $13.2 billion. Despite challenges in the semiconductor industry, Intel's focus on operational efficiency and expansion into new business areas, such as AI and foundry services, may present opportunities for value investors.
The semiconductor industry, particularly in the AI and Web 3.0 era, offers growth and security opportunities for top-performing chip stocks. Nvidia leads in AI-driven computing with impressive financial results and a range of growth catalysts. Advanced Micro Devices is making strides in AI chips and expanding into embedded computing. Intel aims to regain chip manufacturing leadership with its AI chips and investments in facilities. These chip stocks continue to outperform and have room for further growth.
Scholastic Corp. reported a larger-than-expected loss in its fiscal first quarter, causing its stock to drop. Meanwhile, Activision Blizzard received preliminary approval from British antitrust regulators for Microsoft's buyout of the company. Seagen Inc. provided a positive update on a potential treatment for bladder cancer, leading to a rise in its stock. Alibaba Group Holding Ltd. is reportedly planning to file for an IPO in Hong Kong for its logistics arm, Cainiao. Intel Corp. faced a fresh $400 million fine from European Union antitrust enforcers in an ongoing legal battle.