Justin Sullivan / Getty Images
Key Takeaways
-
Intel is reportedly having discussions around the possible spin off or sale of its foundry division, which makes chips for other companies.
-
The company’s stock is down 60% this year, making it the second-worst performing component of the S&P 500 index.
-
The company reported a second-quarter loss of $1.6 billion, and analysts expect a $1 billion loss this quarter.
A report that Intel Corp. (INTC) is considering the spin-off or sale of its foundry business lifted the tech giant’s stock Friday.
Shares of Intel rose nearly 8% following the Bloomberg report, which cited people familiar with the matter. An Intel spokesperson declined to comment.
Intel’s foundry business makes chips for outside companies. A move isn’t likely in the immediate term, however, with multiple options expected to be presented at a September board meeting, the report…
