Intel’s new segment reporting offers more Foundry visibility, says Roth MKM

Roth MKM analyst Suji Desilva keeps a Neutral rating and $45 price target on Intel after the company disclosed a $7B operating loss in Foundry unit for FY23. The company has updated investors with its new segment reporting that provides full visibility into a separate foundry business financial profile, and with greater clarity into the profitability of the company’s manufacturing business, investors should have greater focus on cost efficiency and service offering improvement to capture incremental external foundry business, the analyst tells investors in a research note.