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Intel’s decision to go its own way caused shares to decline 9%
23.01.2021 [06:08],
Alexey Razin

Intel executives were originally slated to share a clear strategy for leveraging contractors’ capacity to close technology gap with competitors at yesterday’s quarterly event. Without the information they wanted, investors quickly became disillusioned, causing Intel shares to decline 9.29% to $ 56.66.

Image source: Intel

The rhetoric of Patrick Gelsinger, who is destined to lead Intel from mid-February, convinced investors that the company will rely mainly on its own resources for the release of 7nm products, and the first central processors of the corresponding generation will be released before the end of 2023. According to Raymond James analysts, even having mastered the 7nm technical process, Intel will lag behind TSMC, and it is unlikely to be able to regain its leadership in the market without advanced technical processes. Intel will need at least four years to reach parity with the leaders.

Other experts were disappointed by the very fact that information about plans for 2023 was delayed, although from the point of view of the company’s management it was justified. Patrick Gelsinger as CEO should share his views on Intel’s future path ahead of next quarterly report in April. In the same period, a financial forecast for the current year should be formed, which Intel refused to discuss at the last event.

Analysts, ready to raise their outlook for Intel shares, are focusing on the potential to increase revenue this year due to high demand for laptops, but also complain about the lack of certainty with the company’s plans for the period until 2023. Intel may face difficulties and financial losses on the road to «technological renaissance». Considerations like these almost brought Intel’s stock price back to the level of October last year, canceling out the results of the January ascent.

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