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Intel will ‘focus’ less on buying back company stock -CEO

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The chief executive of the biggest U.S. chip-maker, Intel Corp (INTC.O), said the company is going to curb its focus on buying back its own stock.

The chief executive of the biggest U.S. chip-maker, Intel Corp"We will not be anywhere near as focused on buybacks going forward as we have in the past," Intel Chief Executive Officer Pat Gelsinger said in an interview on the CBS news magazine "60 Minutes" to air on Sunday night.

A global shortage of semiconductor chips, critical in cars, laptops and other major consumer products, has put a spotlight on Intel, the only major U.S. chip manufacturer.

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