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Intel Stock Slides as Citi Expresses Doubt on Transformation Strategy
Intel Stock Slides as Citi Expresses Doubt on Transformation Strategy
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BTCCSquare news:
Intel shares fell nearly 3% Thursday after Citi analysts cast skepticism on the chipmaker's restructuring efforts. Despite growing interest in Intel's advanced packaging technology, the bank notes a lack of concrete contracts and persistent technical hurdles.
The company's pivot comes amid massive layoffs and product mix changes, but Citi sees limited near-term upside. Even potential deals like Qualcomm's exploratory use of Intel systems for data center ASICs WOULD contribute less than 1% to Qualcomm's sales—a drop in the bucket for Intel's turnaround ambitions.
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