Intel's stock popped in Thursday afternoon action after Chief Executive Pat Gelsinger gave an upbeat signal about the chip giant's business.
Intel Corp.’s stock popped in Thursday afternoon action after Chief Executive Pat Gelsinger gave an upbeat signal about the chip giant’s business.
“Inventory levels are solid,” Gelsinger said, according to a transcript provided by AlphaSense/Sentieo. “Our market share is improving. We’re about to go into a next major product … so we feel good about where we are, and we feel good about the road map of capabilities going forward.” Intel shares were up 1.5% in afternoon action Thursday, after rising as much as 3% earlier in the session.Gelsinger also discussed some dynamics beyond the quarter, including as relates to Intel’s foundry business, calling out a “large customer prepay” for its 18A process technology.
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