Intel stock slips on Ohio plant delay chatter By Investing.com

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<span>© Reuters Intel (INTC) stock slips on Ohio plant delay chatter</span><br />
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<p>Intel (NASDAQ:) shares slipped in US premarket trading Friday following a report by the Wall Street Journal indicating a delay in the company&#8217;s plans for a $20 billion chip facility in Ohio. </p>
<p>The report has raised concerns regarding Intel&#8217;s capital expenditure strategies. However, analysts have largely downplayed the severity of this delay, suggesting it does not signal impending cuts to capital spending.</p>
<p>Shares fell 1.4% in pre-open trade.</p>
<p>Cantor Fitzgerald analysts commented that Intel&#8217;s postponement of its Ohio investment is not indicative of a broader reduction in wafer fabrication equipment (WFE) spending for equipment vendors. </p>
<p>The broker highlighted that Intel has already placed orders for equipment to be used in fabs outside of Ohio, with no alterations to these plans.</p>
<p>“Is this an issue with the process roadmap (20A, 18A etc?) Our inclination is to say probably not,” analysts said in a note.</p>
<p>“We doubt the news signifies any rapid changes to plans, and assume recent capex commentary offered up on the earnings call a week or two back would have already contemplated any changes,” they added. </p>
<p>“But the delay does likely signify a structural reset in the company’s forward revenue expectations, at least for now.”</p>
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<br /><a href="https://www.investing.com/news/stock-market-news/intel-stock-slips-on-ohio-plant-delay-chatter-432SI-3290925">Source link </a></p><p>The post <a href="https://forextraderhub.com/intel-stock-slips-on-ohio-plant-delay-chatter-by-investing-com.html">Intel stock slips on Ohio plant delay chatter By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>