Topic: How To Invest

Wall Street Stock Forecaster Hotline – Friday, July 24, 2020

Article Excerpt

INTEL CORP., $50.59, Nasdaq symbol INTC, is still a buy for long-term gains. The company is the world’s leading maker of computer chips: its products power 90% of all personal computers. The stock dropped 16% on Friday after Intel confirmed that manufacturing problems would delay the launch of its faster, more powerful 7-nanometer chips by about a year. That would give its competitors, which are already selling 7-nanometer chips, an advantage. The company, which operates its own plants, may also look at outsourcing more of its production; other firms already make about 20% of its chips. The change would give Intel more flexibility. However, many of the top chip-making plants in Asia have limited spare capacity. Meantime, Intel continues to see strong demand for its chips as the COVID-19 pandemic spurs strong sales of new laptop computers and chips that power datacentres. In the quarter ended June 27, 2020, overall revenue jumped 19.5%, to $19.73 billion from $16.51 billion a year earlier. That beat the…