Intel Corp.’s stock popped in Thursday afternoon action after Chief Executive Pat Gelsinger gave an upbeat signal about the chip giant’s business.
“Inventory levels are solid,” Gelsinger said, according to a transcript provided by AlphaSense/Sentieo. “Our market share is improving. We’re about to go into a next major product … so we feel good about where we are, and we feel good about the road map of capabilities going forward.” Intel shares were up 1.5% in afternoon action Thursday, after rising as much as 3% earlier in the session.Gelsinger also discussed some dynamics beyond the quarter, including as relates to Intel’s foundry business, calling out a “large customer prepay” for its 18A process technology.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »