We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Intel (INTC) Secures Funds to Propel Semiconductor Ecosystem
Read MoreHide Full Article
Intel Corporation (INTC - Free Report) has secured up to $8.5 billion in direct funding under the CHIPS and Science Act. The partnership between Intel and the U.S. Department of Commerce marks a pivotal moment in advancing U.S. semiconductor manufacturing and research and development.
The funding, a crucial component of the CHIPS Act, underscores the government's commitment to enhancing domestic semiconductor production, particularly in cutting-edge technologies. Intel, as the sole U.S. company engaged in both the design and manufacturing of leading-edge logic chips, stands poised to leverage this support for critical semiconductor projects across its facilities in Arizona, New Mexico, Ohio and Oregon.
Intel's CEO, Pat Gelsinger, heralded the partnership as a watershed moment, emphasizing the significance of semiconductor innovation in powering the digital revolution. The funding is poised to reinforce Intel's position as a trailblazer in technology leadership, facilitating resilient and sustainable semiconductor supply chains critical for America's future.
This collaboration represents one of the most substantial public-private investments in the U.S. semiconductor industry to date. Intel's commitment, coupled with the CHIPS Act funding, is set to generate thousands of new jobs, fortify research and development endeavors and bolster U.S. supply chains, thereby cementing U.S. leadership in semiconductor manufacturing and technology.
Under the agreement, Intel has the option to access federal loans of up to $11 billion, further amplifying its capacity for innovation and expansion. Additionally, by availing the U.S. Treasury Department's Investment Tax Credit, Intel anticipates substantial returns on qualified investments exceeding $100 billion over five years, a move poised to fuel long-term growth and competitiveness.
Intel's overarching strategy aligns seamlessly with the objectives of the CHIPS Act, focusing on process technology leadership, resilient supply chains and the development of a world-class foundry business. Through its ongoing investments, including the establishment of Intel Foundry, the company is primed to deliver cutting-edge solutions tailored for the AI-driven computing era.
Moreover, Intel's steadfast commitment to U.S. manufacturing and research and development is evident in its extensive investments across key states. From Arizona's Silicon Desert to Oregon's Silicon Forest, Intel's footprint underscores its dedication to fostering innovation and economic growth domestically.
With nearly 55,000 employees in the United States and indirect support for more than 720,000 American jobs, Intel's impact on the economy is substantial. The CHIPS Act funding is projected to create more than 10,000 permanent jobs at Intel, along with nearly 20,000 construction jobs, further catalyzing job creation and economic prosperity.
The stock has gained 50% over the past year compared with the industry’s growth of 166.3%.
Based in Finland, Nokia Corporation (NOK - Free Report) is well-positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. Its installed base of high-capacity AirScale products, which enables customers to quickly upgrade to 5G, is growing fast.
Nokia’s end-to-end portfolio includes products and services for every part of a network, which are helping operators to enable key 5G capabilities, such as network slicing, distributed cloud and industrial IoT. Accelerated strategy execution, sharpened customer focus and reduced long-term costs are expected to position Nokia as a global leader in the delivery of end-to-end 5G solutions. This Zacks Rank #2 (Buy) stock has a long-term earnings growth expectation of 9.4%.
AudioCodes Ltd. (AUDC - Free Report) currently carries a Zacks Rank #2. It has a long-term earnings growth expectation of 24.8% and delivered an earnings surprise of 20.1%, on average, in the trailing four quarters.
Headquartered in Lod, Israel, AudioCodes offers advanced communications software, products and productivity solutions for the digital workplace. It provides a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world.
Headquartered in White Plains, NY, Turtle Beach Corporation (HEAR - Free Report) develops and markets gaming headset solutions for various platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices under the Turtle Beach brand.
Turtle Beach is well-positioned to benefit from quality products and enjoys a solid foothold in its served markets. Its headsets are suited for learning and working remotely via video or audio conferencing. This Zacks Rank #2 stock has a long-term earnings growth expectation of 16%. It has a VGM Score of A.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Intel (INTC) Secures Funds to Propel Semiconductor Ecosystem
Intel Corporation (INTC - Free Report) has secured up to $8.5 billion in direct funding under the CHIPS and Science Act. The partnership between Intel and the U.S. Department of Commerce marks a pivotal moment in advancing U.S. semiconductor manufacturing and research and development.
The funding, a crucial component of the CHIPS Act, underscores the government's commitment to enhancing domestic semiconductor production, particularly in cutting-edge technologies. Intel, as the sole U.S. company engaged in both the design and manufacturing of leading-edge logic chips, stands poised to leverage this support for critical semiconductor projects across its facilities in Arizona, New Mexico, Ohio and Oregon.
Intel's CEO, Pat Gelsinger, heralded the partnership as a watershed moment, emphasizing the significance of semiconductor innovation in powering the digital revolution. The funding is poised to reinforce Intel's position as a trailblazer in technology leadership, facilitating resilient and sustainable semiconductor supply chains critical for America's future.
This collaboration represents one of the most substantial public-private investments in the U.S. semiconductor industry to date. Intel's commitment, coupled with the CHIPS Act funding, is set to generate thousands of new jobs, fortify research and development endeavors and bolster U.S. supply chains, thereby cementing U.S. leadership in semiconductor manufacturing and technology.
Under the agreement, Intel has the option to access federal loans of up to $11 billion, further amplifying its capacity for innovation and expansion. Additionally, by availing the U.S. Treasury Department's Investment Tax Credit, Intel anticipates substantial returns on qualified investments exceeding $100 billion over five years, a move poised to fuel long-term growth and competitiveness.
Intel's overarching strategy aligns seamlessly with the objectives of the CHIPS Act, focusing on process technology leadership, resilient supply chains and the development of a world-class foundry business. Through its ongoing investments, including the establishment of Intel Foundry, the company is primed to deliver cutting-edge solutions tailored for the AI-driven computing era.
Moreover, Intel's steadfast commitment to U.S. manufacturing and research and development is evident in its extensive investments across key states. From Arizona's Silicon Desert to Oregon's Silicon Forest, Intel's footprint underscores its dedication to fostering innovation and economic growth domestically.
With nearly 55,000 employees in the United States and indirect support for more than 720,000 American jobs, Intel's impact on the economy is substantial. The CHIPS Act funding is projected to create more than 10,000 permanent jobs at Intel, along with nearly 20,000 construction jobs, further catalyzing job creation and economic prosperity.
The stock has gained 50% over the past year compared with the industry’s growth of 166.3%.
Image Source: Zacks Investment Research
Intel currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Picks
Based in Finland, Nokia Corporation (NOK - Free Report) is well-positioned for the ongoing technology cycle, given the strength of its end-to-end portfolio. Its installed base of high-capacity AirScale products, which enables customers to quickly upgrade to 5G, is growing fast.
Nokia’s end-to-end portfolio includes products and services for every part of a network, which are helping operators to enable key 5G capabilities, such as network slicing, distributed cloud and industrial IoT. Accelerated strategy execution, sharpened customer focus and reduced long-term costs are expected to position Nokia as a global leader in the delivery of end-to-end 5G solutions. This Zacks Rank #2 (Buy) stock has a long-term earnings growth expectation of 9.4%.
AudioCodes Ltd. (AUDC - Free Report) currently carries a Zacks Rank #2. It has a long-term earnings growth expectation of 24.8% and delivered an earnings surprise of 20.1%, on average, in the trailing four quarters.
Headquartered in Lod, Israel, AudioCodes offers advanced communications software, products and productivity solutions for the digital workplace. It provides a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world.
Headquartered in White Plains, NY, Turtle Beach Corporation (HEAR - Free Report) develops and markets gaming headset solutions for various platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices under the Turtle Beach brand.
Turtle Beach is well-positioned to benefit from quality products and enjoys a solid foothold in its served markets. Its headsets are suited for learning and working remotely via video or audio conferencing. This Zacks Rank #2 stock has a long-term earnings growth expectation of 16%. It has a VGM Score of A.