Roth/MKM on Intel (INTC): 'e are encouraged by the stepped-up pace of restructuring efforts'

Wolfe Research on Intel (INTC): 'We don’t think spinning out the manufacturing business makes sense', 'Amazon agreement positive'

September 17, 2024 9:11 AM EDT

Wolfe Research analyst Chris Caso reiterated a Peerperform rating on Intel (NASDAQ: INTC).

The analyst comments "We dont think spinning out the manufacturing business makes sense, since the manufacturing and chip businesses are inextricably linked. INTC announced the formal split of manufacturing business into a separate entity, which is consistent with what INTC has said in the past. INTC management feels that separation is necessary to make potential foundry customers comfortable that the businesses are separate, that customers IP and interests will be protected, and it also allows managers in the chip... More

Truist Securities Reiterates Hold Rating on Intel (INTC)

September 17, 2024 8:49 AM EDT

Truist Securities analyst William Stein reiterated a Hold rating and $25.00 price target on Intel (NASDAQ: INTC).

The analyst comments "AMC on 9/16, CEO Pat Gelsinger published a letter to Intel employees highlighting the next phase of the company's transformation following its last Board meeting.... More

Stifel Reiterates Buy Rating on Marvell (MRVL), 'impact on MRVL is likely to remain minimal'

September 17, 2024 8:45 AM EDT

Stifel analyst Tore Svanberg reiterated a Buy rating and $95.00 price target on Marvell (NASDAQ: MRVL).

The analyst comments "INTC announced the expansion of its custom chip partnership with AWS, with a multiyear, multi-$bn framework covering products and wafers from... More

Intel rises as Amazon deal boosts struggling foundry unit's prospects

September 17, 2024 8:14 AM EDT

By Deborah Mary Sophia and Arsheeya Bajwa

(Reuters) -Intel shares jumped almost 4% in early trading on Tuesday, as a chip-making deal with Amazon's cloud business gave a major stamp of approval to its money-losing contract manufacturing business.

After a near 60% slump in Intel's shares this year, the deal provides some respite to strained investors as the once-leading chipmaker bets its future on a costly turnaround hinging on its foundry unit.

Intel will build custom AI chips for Amazon Web Services (AWS) as part of the multibillion-dollar deal, expanding a years-long... More

KeyBanc Reiterates Sector Weight Rating on Intel (INTC)

September 17, 2024 7:50 AM EDT

KeyBanc analyst John Vinh reiterated a Sector Weight rating on Intel (NASDAQ: INTC).

The analyst commented, "INTC made several key announcements today regarding IFS, AWS, CHIPS Act funding, and its $10B cost-savings initiatives including: 1) IFS will produce an AI fabric chip for AWS on Intel 18A; 2) an award of up to $3B... More

TD Cowen Reiterates Hold Rating on Intel (INTC)

September 17, 2024 7:40 AM EDT

TD Cowen analyst Joshua Buchalter reiterated a Hold rating and $25.00 price target on Intel (NASDAQ: INTC).

The analyst commented, "Wanting to ensure our first day covering the company was an interesting one, Intel announced a multi-year, multi-billion dollar framework agreement with... More

Northland Reiterates Outperform Rating on Intel (INTC)

September 17, 2024 6:48 AM EDT

Northland analyst Gus Richard reiterated an Outperform rating and $42.00 price target on Intel (NASDAQ: INTC).

The analyst comments "INTC is a strategic Company for the DoD, as it needs its supply chain to be based on US soil. There is... More

Stocks expected to have increasing option volume: INTC SPY QQQ RUT IWM GDX MSTR

September 17, 2024 5:30 AM EDT

Stocks expected to have increasing option volume: INTC SPY QQQ RUT IWM GDX MSTR

... More

Citi Reiterates Neutral Rating on Intel (INTC)

September 17, 2024 5:23 AM EDT

Citi analyst Christopher Danely reiterated a Neutral rating and $25.00 price target on Intel (NASDAQ: INTC).

The analyst comments "Yesterday Intel issued a press release following its board meeting. Intel announced a multi-billion deal with AWS to supply AWS with custom... More

Intel (INTC) call put ratio 4.6 calls to 1 put amid headlines

September 17, 2024 5:22 AM EDT

Intel (NASDAQ: INTC) 30-day option implied volatility is at 52; compared to its 52-week range of 28 to 60 amid headlines. Call put ratio 4.6 calls to 1 put on active option volume of 792K contracts.

... More

After-hours movers: Intel, Box, Microstrategy, Marvell Technology

September 16, 2024 4:35 PM EDT

After-Hours Stock Movers:

Intel (NASDAQ: INTC) rose 8% after it and Amazon Web Services. Inc. (AWS) announced a co-investment in custom chip designs under a multi-year, multi-billion-dollar framework covering product and wafers from Intel. Separately, Intel said it plans a... More

Marvell Technology (MRVL) declined 2% following Intel's deal with AWS

September 16, 2024 4:31 PM EDT

Marvell Technology (NASDAQ: MRVL) declined 2% following Intel's deal with AWS.

Intel Corp. (NASDAQ: INTC) and Amazon Web Services. Inc. (AWS), an Amazon.com company (NASDAQ: AMZN), today announced a co-investment in custom chip... More

Intel foundry business to make custom chip for Amazon, chipmaker's shares jump

September 16, 2024 4:19 PM EDT

By Max A. Cherney

(Reuters) - Intel's foundry, or contract manufacturing business, has signed up Amazon's cloud services unit as a customer for making custom artificial intelligence chips, the companies said on Monday, a deal that gives the chip maker a vote of confidence.

Intel's shares rose roughly 8% in extended trading after CEO Pat Gelsinger released a memo to employees announcing Intel had secured the Amazon unit as be a multibillion-dollar customer, paying Santa Clara, California-based Intel for design services and manufacturing. The memo also outlined Intel's planned cost cuts.

Amazon's AWS cloud computing division already... More

Intel (INTC) CEO Pat Gelsinger issues message to employees regarding future plans

September 16, 2024 4:08 PM EDT

(Updated - September 16, 2024 4:18 PM EDT)

Team,

All eyes have been on Intel since we announced Q2 earnings. There has been no shortage of rumors and speculation about the company, including last weeks Board of Directors meeting, so Im writing today to provide some updates and outline what comes next.

Let me start by saying we had a highly productive and supportive Board meeting. We have a strong Board comprised of independent directors whose job it is to challenge and push us to perform at our best. And we had deep discussions about our... More

Intel (INTC) to Establish Intel Foundry as Independent Unit

September 16, 2024 4:06 PM EDT

Intel (NASDAQ: INTC) CEO Pat Gelsinger in message to employees:

To build on our progress, we plan to establish Intel Foundry as an independent subsidiary inside of Intel. This governance structure will complete the process we initiated earlier this year when... More

Intel (INTC) To Pause Poland, Germany Factory Projects By About 2 Yrs - Bloomberg

September 16, 2024 4:05 PM EDT

Intel To Pause Poland, Germany Factory Projects By About 2 Yrs - Bloomberg

... More

Intel (INTC) and AWS (AMZN) Expand Strategic Collaboration, Intel to Produce Chips for AWS

September 16, 2024 4:01 PM EDT

(Updated - September 16, 2024 4:03 PM EDT)

Intel Corp. (NASDAQ: INTC) and Amazon Web Services. Inc. (AWS), an Amazon.com company (NASDAQ: AMZN), today announced a co-investment in custom chip designs under a multi-year, multi-billion-dollar framework covering product and wafers from Intel. This is a significant expansion of the two companies longstanding strategic collaboration to help customers power virtually any workload and accelerate the performance of artificial intelligence (AI) applications.

As part of the... More

Intel awarded up to $3 billion from US for national security related chip production

September 16, 2024 2:25 PM EDT

(Reuters) -The Biden Administration on Monday awarded Intel Corp up to $3 billion from the CHIPS and Science Act to develop a "Secure Enclave" for microelectronics, which are a critical component to a wide range of weapon systems and other national security products.

Shares of Intel were up 5.7% after the announcement.

The award pushes forward the administration's commitment to re-shore semiconductor manufacturing and advance cutting-edge technology research and development.

The... More

Intel (INTC) Confirms it was Awarded up to $3B by the Biden-Harris Administration for Secure Enclave

September 16, 2024 2:02 PM EDT

The Biden-Harris Administration announced today that Intel Corporation has been awarded up to $3 billion in direct funding under the CHIPS and Science Act for the Secure Enclave program. The program is designed to expand the trusted manufacturing of leading-edge semiconductors for the U.S. government.

The Secure Enclave program builds on previous projects between Intel and the Department of Defense (DoD) such as Rapid Assured Microelectronics Prototypes - Commercial (RAMP-C) and State-of-the-Art Heterogeneous Integration Prototype (SHIP). As the only American company that both designs and manufactures leading-edge logic chips, Intel will help secure the domestic chip supply... More

Popular stocks with increasing volume: INTC ORCL AVGO SOFI MU GME WMT UPST

September 16, 2024 10:54 AM EDT

Popular stocks with increasing volume: INTC ORCL AVGO SOFI MU GME WMT UPST

... More

Midday movers: Intel, Pfizer rise; Apple falls

September 16, 2024 7:33 AM EDT

(Updated - September 16, 2024 11:34 AM EDT)

Investing.com -- U.S. stock futures were mixed Monday, with traders cautious ahead of the latest Federal Reserve policy-setting meeting.

Here are some of the biggest U.S. stock movers today:

Pfizer (NYSE: PFE) stock rose 1.8% after the drugmaker said its experimental drug to combat a condition that causes cancer patients to lose their... More

Exclusive-How Intel lost the Sony PlayStation business

September 16, 2024 6:07 AM EDT

By Max A. Cherney

SAN FRANCISCO (Reuters) - Intel lost out on a contract to design and fabricate Sonys PlayStation 6 chip in 2022, which dealt a significant blow to its effort to build its fledgling contract manufacturing business, according to three sources with knowledge of the events.

The effort by Intel to win out over Advanced Micro Devices in a competitive bidding process to supply the design for the forthcoming PlayStation 6 chip and Taiwan Semiconductor Manufacturing Co as the contract manufacturer would have amounted to billions of dollars of revenue and fabricating thousands of silicon wafers a... More

Intel (INTC) 30-day option implied volatility is at 48 amid headlines

September 16, 2024 5:52 AM EDT

Intel (NASDAQ: INTC) 30-day option implied volatility is at 48; compared to its 52-week range of 28 to 60 into reaches $3.5B deal to make chips for U.S. military, Bloomberg reports.

... More

Intel (INTC) Solidifies $3.5B Deal To Make Chips For The US Military - Bloomberg

September 13, 2024 7:16 PM EDT

Intel (NASDAQ: INTC) Solidifies $3.5B Deal To Make Chips For The US Military - Bloomberg

The deal could be announced next week

This agreement is separate from an $8.5B Chips Act award

... More