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Fly News Breaks for October 25, 2019
TSM, INTC
Oct 25, 2019 | 07:04 EDT
As previously reported, Northland analyst Gus Richard upgraded Intel (INTC) to Outperform from Market Perform with a price target of $69, up from $48, after the company reported what he called "a very strong quarter" and announced an additional $20B share repurchase authorization. Given the company's sale of its modem business and attempts to reduce 3D NAND's roughly $1B drag on earnings, Richard sees "a lot more earnings power" in 2020 than he had previously modeled, he tells investors. However, he still is concerned about longer-term issues, such as Intel remaining behind TSMC (TSM) in process technology and the potential for competitors to likely pick up share over time.
News For INTC;TSM From the Last 2 Days
TSM
Mar 27, 2024 | 17:51 EDT
AST SpaceMobile (ASTS) commenced the tape-out phase for its Application-Specific Integrated Circuit - ASIC-, in collaboration with TSMC (TSM). The AST5000 ASIC is a novel, custom and low-power architecture developed to enable up to a tenfold improvement in processing bandwidth on each satellite, unlocking opportunities for space-based cellular broadband services worldwide. This marks the culmination of over four years of research, development, and engineering, as well as approximately $45M of development.