http://blogs.barrons.com/techtraderdaily/2016/04/27/intel-to-reduce-investment-in-sofia-chip-line-says-wells-fargo/
If this is true then it will hit Intel Germany hard !
10 replies (most recent on top)
@sab: calm down, only public information below
http://blogs.barrons.com/techtraderdaily/2016/04/27/intel-to-reduce-investment-in-sofia-chip-line-says-wells-fargo/
- yahoo finance
Do not talk about internal projects on a rumor/gossip website. Intel engineers are getting laid off, not the legal team at Intel. Do not invite more trouble to yourself than you are already in. You will get your asskicked if you continue posting confidential information here. I am watching you - @H8zDaea-xya . I still work at Intel.
@H8zDaea-qnz: Trivia question - Which is the world's first smart car?
Hint: It is smart to know when it is under emission test and skew the number to pass the test..!!!
I am really sorry for making fun on such a serious post. I have worked for Bosch and I have worked with engineers from Fujitsu-Siemens, Lauterbach etc and I think they are very good..among the best.
But I was always told the Germans are great at engineering....
Engineering fake emission results maybe....
Boom...that just happened.
4+3+x is probably >> 10B including the losses before 2012...
That's like 2-3 dollars per share of lost dividend...WOW WOW WOW!
With my 180K shares I could have bought a couple of homes and rented them out....
Are you saying loosing >>10B$ is a good thing?
I'm on the fun side.....use the ISP money to buy some stock....join me.
Sorry friend...I'm the shareholder.
I need more dividend...mo mo mo...
It's nothing personal....it's just that I am better than you.
$4Billion was only in 2013
2014 ~ $3Billion
2015 ~ $xBillion
......
Yahoo Finance said Intel looses $4Billion a year on this "mobile" products...
As a shareholder, I demand the savings is passed on to me.
Thank you.
Intel To Reduce Investment in ‘SoFIA’ Chip Line, Says Wells Fargo
By Tiernan Ray
Wells Fargo’s David Wong this afternoon issued a brief note to clients after holding a meeting with Intel’s (INTC) CFO, Stacy Smith, and a “small group” of other people.
Wong notes that the company is informing employees of some details of the restructuring announced a week ago, particularly with respect to smartphone and tablet chips:
Today, 4/27 we attended a small group lunch with Intel’s CFO. Intel appears to be moving very rapidly to inform its employees of their status with regard to the restructuring plan. The largest portion of the cost cuts will be to improve efficiency and effectiveness across the company. Some specific projects will be impacted, primarily in the Client Computing Group (CCG). Within CCG Intel plans on scaling back its investment in tablet and smartphone SoCs (system-on- chip) – we assume this refers to a reduction in investment in the SoFIA product line.
Wong has an Outperform rating on Intel shares, and a $40 to $50 price target.
This does mean that INTEL finally abandons fruitless attempts to make smart phones and Android tablets. The half of the IMC campus will be scraped. Well... IMC (Campeon) is in grave danger.
Or maybe all Campeon will be scraped?
I work for supplier of Intel. Today we got a call to ask to put all development on hold for Sofia and provide the cost of all the work we had done to date. I bet there will be a lot more of these projects getting canned.