MarketWatch First Take
Intel tells Wall Street analysts that the first customer for its foundry business will likely be announced in the second half of this year
Intel executives said they won’t see any revenue in the company’s new contract manufacturing business until at least early 2025.
Intel
In an hour-long webinar Intel Corp. hosted for Wall Street analysts to provide updates on its contract manufacturing business, the company confirmed that it would be a long slog for investors.
Shares of the world’s second-largest semiconductor company fell nearly 5% on Wednesday, following Tuesday’s lesser tumble of 3.8%, when Intel INTC was the worst performer in the Dow Jones Industrial Average DJIA. Wednesday’s trading indicated it was on track to repeat that unenviable feat.
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