Intel warns it faces supply chain constraints

Stefan Mileschin · 26th July 2021, 07:16

Sales down for the end of the year

Chipzilla said it is still facing supply chain constraints and gave an annual sales forecast that means it will be a dismal Christmas.

While the 2021 forecast of $73.5 billion in adjusted sales was higher than Wall Street expectations, appeared driven by a strong second quarter ended June 26 and a modestly better-than-expected third quarter, implying a weak fourth quarter.

Intel shares fell 2.8 per cent in after-hours trading after the results.

Intel has been able to weather the supply chain woes better than some rivals and is working to increase its "foundry" business.

Intel Chief Executive Officer Pat [kicking] Gelsinger declined to comment on a recent report that Intel is looking to buy GlobalFoundries for $30 billion to bolster its foundry efforts but told Reuters that he expects industry consolidation to continue and that "M&A will remain a part of our strategy" for building the company's foundry business.

https://fudzilla.com/news/53278-inte...in-constraints

26th July 2021, 07:16	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,802	Intel warns it faces supply chain constraints Sales down for the end of the year Chipzilla said it is still facing supply chain constraints and gave an annual sales forecast that means it will be a dismal Christmas. While the 2021 forecast of $73.5 billion in adjusted sales was higher than Wall Street expectations, appeared driven by a strong second quarter ended June 26 and a modestly better-than-expected third quarter, implying a weak fourth quarter. Intel shares fell 2.8 per cent in after-hours trading after the results. Intel has been able to weather the supply chain woes better than some rivals and is working to increase its "foundry" business. Intel Chief Executive Officer Pat [kicking] Gelsinger declined to comment on a recent report that Intel is looking to buy GlobalFoundries for $30 billion to bolster its foundry efforts but told Reuters that he expects industry consolidation to continue and that "M&A will remain a part of our strategy" for building the company's foundry business. https://fudzilla.com/news/53278-inte...in-constraints

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