Intel Stock Drops Amid Concerns Over TSMC Partnership

Intel’s stock (NASDAQ:INTC) experienced a significant decline of over 7% during Friday’s trading session due to renewed concerns about its partnership with Taiwan Semiconductor Manufacturing Company (TSM). Reports suggest that Intel plans to outsource part of its two nanometer chip production to TSM, despite having its own advanced manufacturing process. Analysts are questioning why Intel would choose to outsource production when it has the capability to produce these chips in-house. Additionally, Intel’s CEO, Lip-Bu Tan, is implementing major changes within the company, including a Return To Office (RTO) mandate requiring employees to work in the office at least four days a week starting September 1. Wall Street analysts currently have a Hold consensus rating on INTC stock, with an average price target of $22.16 per share, indicating potential 10.86% upside. — new from TipRanks

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