Intel CFO Says New Chip Output For Clients Will Be Minimal, Eyes Foundry Breakeven By 2027
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Intel's CFO David Zinsner announced that the company's new chip output for external clients will be minimal, with a goal for the foundry to break even by 2027. Intel's stock has dropped over 31% in the past year, struggling against competitors like AMD and Nvidia. The company reported a first-quarter revenue of $12.7 billion, slightly above expectations, but guidance for the second quarter fell short. Analysts have lowered price targets due to concerns over demand and economic uncertainty.
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