Intel Foundry Lands Apple, Terafab as Key Clients; 18A-P Production Begins
INTC has more than doubled off its 52-week low of $18.965.
Summary
Intel's foundry division has secured major clients, including Apple and Terafab, and commenced production of its advanced 18A-P chip process. This builds on the May 8th news of Intel manufacturing chips for Apple. While the foundry segment remains unprofitable, these client wins and the start of 18A-P production are crucial steps in validating Intel's manufacturing strategy and technology roadmap. This progress is vital for the long-term success of Intel's strategic pivot into the foundry business.
At the time of this announcement, INTC was trading at $118.42 on NASDAQ in the Technology sector, with a market capitalization of approximately $588.3B. The 52-week trading range was $18.97 to $132.75. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.