SAN FRANCISCO: Intel said Thursday that earnings topped prior expectations, as the computer chip giant faces pressure to come up with bold ways to fend off fierce competition and an activist shareholder.
Intel said that its board approved an increased cash dividend of US$1.39 per share in what may have been a move to placate investor Dan Loeb of Third Point, who has called on Intel to bolster its weakening position in the chip market. “I am confident that the majority of our 2023 products will be manufactured internally,” Gelsinger said.
Loeb’s criticism of Intel wasn’t new, and Intel has enlisted outside foundries selectively in the past, according to analyst Patrick Moorhead of Moor Insights and Strategy.National asset
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