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Intel (INTC) Boosts Investment in Arizona Chip Factories
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Intel Corporation (INTC - Free Report) has partnered with Canada’s leading asset management firm Brookfield to fund its leading-edge chip factories in Arizona. The joint investment will be to the tune of up to $30 billion.
Intel will have a 51% stake in the expansion project for operational control. This will help it to conserve debt capacity for other requirements with commitments in finance-based projects having a time horizon of more than one year. The investment reflects the continuation and extension of the deal signed by Brookfield and Intel in February for Intel’s site manufacturing finance-based options.
According to the terms of the investment, Intel will have operating control of the two chip factories assigned to produce advanced chips in Chandler, AZ. Brookfield will invest up to $15 billion for a 49% stake in the expansion project.
New products such as Xeon Scalable, improvements in cloud computing, enterprise upgrade and virtualization are expected to increase Intel’s sales. The company’s investment in field programmable gate array enables it to develop custom solutions for big players by increasing performance at lower power and increasing memory to reduce latency.
Image Source: Zacks Investment Research
Intel will be able to reduce its borrowing requirements to fund its expansion and retain cash so that the company can continue paying dividends. The deal will also solidify the company’s presence in Taiwan and South Korea.
The stock has lost 36.9% in the past year compared with the industry’s decline of 23.3%.
Intel currently carries a Zacks Rank #5 (Strong Sell).
Tencent Holdings Limited (TCEHY - Free Report) is a better-ranked stock in the broader Zacks Computer and Technology sector, sporting a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 12% at present.
Tencent delivered a trailing four-quarter earnings surprise of 11.3%, on average. It has lost 34.6% in the past year.
Thermon Group Holdings, Inc. (THR - Free Report) , sporting a Zacks Rank #1, is another solid pick for investors. The consensus estimate for current-year earnings has been revised upward by 9.7% over the past seven days.
Thermon delivered a trailing four-quarter earnings surprise of 46.9%, on average. It has appreciated 11.7% in the past year.
Sanmina Corporation (SANM - Free Report) sports a Zacks Rank #1. The consensus estimate for Sanmina current-year earnings has been revised upward by 7.8% over the past seven days.
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Intel (INTC) Boosts Investment in Arizona Chip Factories
Intel Corporation (INTC - Free Report) has partnered with Canada’s leading asset management firm Brookfield to fund its leading-edge chip factories in Arizona. The joint investment will be to the tune of up to $30 billion.
Intel will have a 51% stake in the expansion project for operational control. This will help it to conserve debt capacity for other requirements with commitments in finance-based projects having a time horizon of more than one year.
The investment reflects the continuation and extension of the deal signed by Brookfield and Intel in February for Intel’s site manufacturing finance-based options.
According to the terms of the investment, Intel will have operating control of the two chip factories assigned to produce advanced chips in Chandler, AZ. Brookfield will invest up to $15 billion for a 49% stake in the expansion project.
New products such as Xeon Scalable, improvements in cloud computing, enterprise upgrade and virtualization are expected to increase Intel’s sales. The company’s investment in field programmable gate array enables it to develop custom solutions for big players by increasing performance at lower power and increasing memory to reduce latency.
Image Source: Zacks Investment Research
Intel will be able to reduce its borrowing requirements to fund its expansion and retain cash so that the company can continue paying dividends. The deal will also solidify the company’s presence in Taiwan and South Korea.
The stock has lost 36.9% in the past year compared with the industry’s decline of 23.3%.
Intel currently carries a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Tencent Holdings Limited (TCEHY - Free Report) is a better-ranked stock in the broader Zacks Computer and Technology sector, sporting a Zacks Rank #1. The Zacks Consensus Estimate for its current-year earnings has been revised upward by 12% at present.
Tencent delivered a trailing four-quarter earnings surprise of 11.3%, on average. It has lost 34.6% in the past year.
Thermon Group Holdings, Inc. (THR - Free Report) , sporting a Zacks Rank #1, is another solid pick for investors. The consensus estimate for current-year earnings has been revised upward by 9.7% over the past seven days.
Thermon delivered a trailing four-quarter earnings surprise of 46.9%, on average. It has appreciated 11.7% in the past year.
Sanmina Corporation (SANM - Free Report) sports a Zacks Rank #1. The consensus estimate for Sanmina current-year earnings has been revised upward by 7.8% over the past seven days.