Intel plans to spin off foundry business, aiming to break even by 2027, receiving government funding.

From Nasdaq: 2024-09-19 20:26:43

Intel stock is down 70% from all-time highs, trading below the broader market. The company plans to spin off its foundry business, aiming to break even by 2027. The U.S. government awarded Intel $3 billion to localize chip manufacturing. Despite partnerships with AWS, Intel must improve financial performance. Analysts currently rate Intel stock as a “hold” with an average target price of $29.26, up 38.3%.



Read more at Nasdaq: Is Beaten-Down Intel Stock a Buy on Foundry Spinoff Plans?