Intel (INTC) reachead $20.44 at the closing of the latest trading day, reflecting a -1.87% change compared to its last close.
The PC graphics card market has for years been a lopsided duopoly, with Nvidia the undisputed king and Advanced Micro Devices stuck in second place. Intel (INTC 2.41%) jumped in the ring in late 2022 with its Arc Alchemist graphics cards, bringing much-needed alternatives for consumers.
Intel stock has declined by over 55% this year and trades at just about $21 per share. While part of the sell-off has come due to Intel's market share losses in the CPU space and the broader industry pivot toward AI-focused GPU chips for data centers, the bigger issue for Intel has been its foundry business.
The CEO is out, and the new management team is considering selling parts of the business.
We disagree with the firing of Patrick Gelsinger as Intel Corporation's CEO. Considering that the timeline for delivering a turnaround was 2025 to 2027, the action appears vexing. Patrick Gelsinger is likely to be reinstated as CEO at Intel, in our opinion.
Intel's stock price has declined by more than 50% in 2024 due to weak revenue growth, product delays, and intense competition. 2025 looks more promising with the launch of Intel's new Lunar Lake and Arrow Lake for AI PCs which could boost the DCAI segment recovery. While Intel's history of product delays impacted its market share and revenue, collaboration with TSMC on 3nm chips has closed the technology gap.
This year has been an incredible one for many companies, especially technology players operating in the area of artificial intelligence (AI). They've led gains in all three indexes, from the S&P 500 and the Nasdaq to the Dow Jones Industrial Average.
Intel's co-CEOs discussed splitting the firm's manufacturing and products businesses Thursday. A separation could address Intel's poor financial performance.
Intel (INTC 3.73%) stock is climbing in Thursday's trading. The semiconductor company's share price was up 3.1% as of 3:15 p.m.
CNBC's Deirdre Bosa joins 'The Exchange' from the Barclays Global Technology Conference with IPO news.
Intel Corporation (NASDAQ:INTC ) Barclays 22nd Annual Global Technology Conference December 12, 2024 11:40 AM ET Company Participants Michelle Johnston Holthaus - Interim co-CEO David Zinsner - co-CEO, EVP and CFO Conference Call Participants Thomas O'Malley - Barclays Thomas O'Malley All right. Welcome back to the Barclays Tech Conference, I'm Tom O'Malley, Semiconductor and Semi-Cap Equipment Analyst here at Barclays.
The two executives leading Intel after the ouster of its chief executive said on Thursday that the company may spin out its manufacturing division.