Friday is looking like it’s going to be a rough day to own Intel stock, with shares off 2% on news that the company will delay start-up at its new semiconductors factory in Ohio. That’s the bad news for Intel shareholders today.
The good news is for investors in Advanced Micro Devices (NASDAQ: AMD) — because what’s bad news for a competitor could be great news for AMD. And through 11:30 a.m. ET, AMD stock is up 3.2%.
What Intel said
Up until recently, Intel was planning to begin production at a new chips facility just outside Columbus, Ohio, as early as 2025. But as The Wall Street Journal reports this morning, weak demand for computer chips, combined with delays in the disbursement of U.S. government subsidies under the 2022 CHIPS and Science Act, is pushing back that timeline to 2026 at the earliest.
On the one hand, this isn’t necessarily horrible news for Intel, because any delay in…
