Intel recently reported a significant decline in its Foundry business’s operating loss, which amounted to $7 billion in 2023 compared to $5.2 billion in the previous year. Despite this setback, the company is determined to break even by 2030 and expects its foundry to achieve the highest operating losses in 2024. However, over the next seven years, Intel projects that it will reach 40% non-GAAP gross margin and 30% non-GAAP gross margin.

In an effort to support its turnaround efforts, Intel has decided to invest $100 billion in building and expanding chip factories across four US states. This initiative is crucial for the company as it aims to attract customers and showcase its manufacturing capabilities.

On Wall Street, analysts have a consensus Hold rating on Intel stock, with seven Buys, 24 Holds, and four Sells assigned over the past three months. Although INTC’s stock price has increased by 35% over the past year, its average price target remains at $46.60 per share, indicating only a potential upside of 6.05%.

By Samantha Johnson

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