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Intel (INTC) Goes on an Investment Spree Around The World
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Intel Corporation (INTC - Free Report) is on a spending spree. Over the course of three days, it has announced investments worth approximately $50 billion in Israel, Poland and Germany.
The growing tension between the United States and China over the situation in Taiwan has created an atmosphere of uncertainty in the semiconductor market in recent months. America and Europe are looking for procurement and manufacturing centers other than in Asia, just in case events take a turn for the worse.
The chip-making behemoth, which is part of the Zacks Semiconductor – General industry, has decided to make the most of the situation. Intel is spreading its wings in territories not ventured before.
The company has already done quite well on the back of the semiconductor-led upside seen in the tech sector in 2023, and its shares have risen 39.8% year to date. Over the past week INTC shares have gone up 16.1%. Intel currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
After announcing $4.6 billion in investments in Poland and $25 billion in Israel, Intel came up with its biggest buy-in, wherein it secured a $33 billion deal with the government of Germany to set up a chip manufacturing site in the eastern city of Magdeburg. German Chancellor Olaf Scholz met the company’s CEO, Pat Gelsinger, in Berlin this Monday to announce the deal. Also, Germany pledged to share a third of the investment.
The Zacks Consensus Estimate for its earnings next year has moved up a whopping 349.6%, while estimated sales growth for the same period is 13.7%. Given the growing zeal for creating new and multiple semiconductor hubs, chips are anything but down for Intel.
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Intel (INTC) Goes on an Investment Spree Around The World
Intel Corporation (INTC - Free Report) is on a spending spree. Over the course of three days, it has announced investments worth approximately $50 billion in Israel, Poland and Germany.
The growing tension between the United States and China over the situation in Taiwan has created an atmosphere of uncertainty in the semiconductor market in recent months. America and Europe are looking for procurement and manufacturing centers other than in Asia, just in case events take a turn for the worse.
The chip-making behemoth, which is part of the Zacks Semiconductor – General industry, has decided to make the most of the situation. Intel is spreading its wings in territories not ventured before.
The company has already done quite well on the back of the semiconductor-led upside seen in the tech sector in 2023, and its shares have risen 39.8% year to date. Over the past week INTC shares have gone up 16.1%. Intel currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
After announcing $4.6 billion in investments in Poland and $25 billion in Israel, Intel came up with its biggest buy-in, wherein it secured a $33 billion deal with the government of Germany to set up a chip manufacturing site in the eastern city of Magdeburg. German Chancellor Olaf Scholz met the company’s CEO, Pat Gelsinger, in Berlin this Monday to announce the deal. Also, Germany pledged to share a third of the investment.
The Zacks Consensus Estimate for its earnings next year has moved up a whopping 349.6%, while estimated sales growth for the same period is 13.7%. Given the growing zeal for creating new and multiple semiconductor hubs, chips are anything but down for Intel.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
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