Intel Faces Challenges in Catching Up with TSMC's Profitability in Foundry Business
Wednesday, 3 April 2024, 14:12
Intel vs TSMC: Foundry Business Loss
Intel shares fell nearly 7% on Wednesday, as ballooning losses at its contract chip-making business signaled the company could take years to catch up with the profitability of rival Taiwan Semiconductor Manufacturing Co. Disclosing new financial details for its foundry unit, Intel said the business posted operating losses of $7 billion in 2023 compared with $5.2 billion in 2022.
"We expected foundry economics to be bad, and they truly are," said Bernstein analyst Stacy Rasgon.
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