As per reports, Intel Corporation (INTC) announced to give up manufacturing its components after falling far behind schedule developing its newest technology. Intel shares dropped 15% soon after its CEO Bob Swan informed the investors last week on a conference call that the company’s new 7-nanometer chip technology was six months behind schedule, and the company is preparing to pay other manufacturers to produce its chip designs.
Intel was ahead of its rivals since it designed and manufactured its personal computer and server chips for years, earning the company an edge over its rivals. However, the announcement has now strengthened smaller rival Advanced Micro Devices, whose stocks surged 15%. U.S. shares of Taiwan Semiconductor Manufacturing Co, the world’s largest contract chip manufacturer increased 12% as Intel’s surrendered in manufacturing. Nvidia increased 1.1%, bringing its market capitalization to $252 billion and extending its lead as the most valuable U.S. chipmaker after exceeding Intel earlier this month.
Intel Corporation (INTC) seeks to expand the boundaries of technology to provide the most amazing experience possible while designing, manufacturing, and selling integrated digital technology globally. To learn more about Intel Corporation (INTC) and to track its progress please visit the Vista Partners Intel Corporation Coverage Page. by
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