(Bloomberg) -- Intel Corp., the biggest maker of personal computer processors, tumbled in late trading after giving a lackluster forecast for the current...
-- Intel Corp. , the biggest maker of personal computer processors, tumbled in late trading after giving a lackluster forecast for the current period, indicating that it’s still struggling to return to the top tier of the chip industry.Malaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest CityHow to Get a Meeting With the UAE’s $1.5 Trillion Man
“The first half of the year has been a bit softer than we’d have liked,” he said in an interview. “The back half of the year is going to have some pretty good strength in it.” Intel Foundry, the new division responsible for manufacturing, had sales of $18.9 billion in 2023, down from $27.5 billion the previous year. The unit had revenue of $4.4 billion in the first quarter of 2024.
Gross margin — or the percentage of sales remaining after deducting the cost of production — was 45.1% in the quarter. That closely watched measure, which reflects the efficiency of Intel’s manufacturing operations, will be 43.5% in the current period. Historically Intel has posted margins of more than 60%.
Pat Gelsinger Intel Corp. Manufacturing Operations Foundry Business
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