Intel drops 8% after chipmaker reports hefty loss in foundry business
Publishing timestamp: 2024-04-03 17:11:39
Summary
Intel shares dropped 8% after disclosing a $7 billion operating loss in 2023 for its semiconductor manufacturing business. Analysts have mixed views on the company's strategic plans and financial reporting structure. Intel expects its foundry losses to peak in 2024 and break even by 2030.
Sentiment: MIXED
Tickers: INTC,
Keywords: stock markets, semiconductor device manufacturing, breaking news: technology, technology, business news, intel corp,