Intel gave an upbeat forecast for the current quarter on continued demand for PCs that enable working and studying from home. The stock jumped.
Browsing: Bob Swan
Chip maker Intel said on Wednesday it would replace CEO Bob Swan with VMware CEO Pat Gelsinger beginning 15 February. The company’s shares were up nearly 10% in morning trading.
Samsung Electronics rose the most in almost 10 months after Intel was said to be considering asking the South Korean giant and TSMC to make some of its most sophisticated chips.
With no short-term catalyst for gains on the horizon, Intel shareholders are now forced to ponder its long-term fundamental prospects, and they frankly remain bleak, even as its rivals prosper.
After decades behind the scenes, TSMC is taking an ever-bigger share of the spotlight as one of the most famous and powerful technology companies in the world.
Intel’s decision to consider outsourcing manufacturing heralds the end of an era in which the company, and the US, dominated the semiconductor industry.
Shares of Intel slumped and its rivals surged on Friday after the US chip maker signalled it may give up manufacturing its own components after falling far behind schedule developing its newest technology.
Intel CEO Bob Swan spent almost an hour on Thursday discussing an idea that would once have been unthinkable for the world’s largest semiconductor company: not manufacturing its own chips.
Intel gave bullish quarterly and full-year revenue forecasts, driven by a surge in demand for chips that power large cloud computing centres. The shares jumped as much as 7.8% in late trading.
Intel is reviewing its global supply chain amid the growing trade war between the US and China, CEO Bob Swan said.