Topic: How To Invest

Dividend Advisor Hotline – Friday, February 24, 2023

Article Excerpt

INTEL CORP., $25.14, Nasdaq symbol INTC, remains a buy for long-term gains. The company is the world’s leading maker of computer chips: its products power 65% of all personal computers and 80% of all datacentres. Under Intel’s new strategic plan, which it announced in 2021, the company aims to improve its technical expertise and expand its ability to make chips for other companies. It recently started construction on a $20 billion chipmaking complex in Ohio and is spending $15.3 billion to expand its facility in Arizona. In addition, it plans to build a new $18 billion plant in Germany. The company expects to complete these projects in 2025. To help pay for those new plants, Intel aims to save $8 billion to $10 billion by the end of 2025 by eliminating jobs and other costs. The company is also cutting its quarterly dividend by 65.8% with the June 2023 payment to $0.125 a share from $0.365. The new annual rate of $0.50 yields 2.0%. The…