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Stock impact report

Former Intel CEO warns US chip comeback still has long way to go [FOX Business Network]

Intel Corporation (INTC) 
Last intel corporation earnings: 4/23 04:07 pm Check Earnings Report
US:NASDAQ Investor Relations: intc.com/investor-relations/default.aspx
Intel unveiled new chip manufacturing milestones this week, but former Intel CEO Pat Gelsinger said the United States still has a long way to go to reclaim chip production from Asia. "The metric [is] though, how many wafers are being built in America," Gelsinger said Friday on "The Claman Countdown." "That is the only thing that matters," he added. Gelsinger's warning comes as the Trump administration has moved to strengthen U.S. chip manufacturing, taking a stake in Intel and pushing to bring advanced semiconductor production back on U.S. soil. Much of the world's advanced chip manufacturing remains concentrated in Asia, particularly Taiwan. U.S. officials have said the imbalance poses economic and national security concerns. Gelsinger said it is critical that manufacturing return to the United States, while cautioning that progress will take time. "It's hard to win that manufacturing back. You know it took decades for it to sediment into Asia. It doesn't come back quick Show less Read more
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