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Intel said on Tuesday it's pulling out of the 5G smartphone market and will provide further details later this month. cnbc.com “The company will continue to meet current customer commitments for its existing 4G smartphone modem product line, but does not expect to launch 5G modem products in the smartphone space, including those originally planned for launches in 2020,” Intel said in a statement late Tuesday.
In the smartphone market, “it has become apparent that there is no clear path to profitability and positive returns,” Swan said in the statement. The company has warned in the past that margins are lower in the device market than in data centers. Intel said it will keep investing in its 5G network infrastructure business.
Hi JS, I let 10% of my INTC shares go on a Limit Order this AM @ $52.01. It included a 17% LIFO gain since starting the position in early June. Now I have a comfortable reserve should the price continue to be "cyclical." Tom
2020 has been a wild ride in most business sectors but possibly Semi stocks had the front seat on the roller coaster.
I've been watching my INTC position move pretty much in lockstep with the index. I added 12% to the holding on March 9th at $51.91 which turned out to be a week too early. Those shares and the entire position are still nicely profitable, however.