12:35 AM EDT, 04/03/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

INTC announces a new reporting structure that separates its foundry business (its manufacturing arm), offering greater transparency to help build trust with external partners. Restated financials show foundry revenue of $18.9B in '23 ($953M external), down 31% Y/Y, with an operating loss of $7B. Foundry losses will worsen in '24, but INTC targets a 40% gross/30% foundry operating margin by '30. We stay on the sidelines given high capex needs and long time horizon before its foundry unit reaches breakeven operating margin (we see '27). INTC can be a #2 foundry player but will still be powered by its internal products looking ahead (only 30% external by '30). We think the separation raises the likelihood of a foundry spin-off once sustainable standalone profitability is achieved, with Intel Products generating more attractive margins (target 60% gross/40% operating margin). Today, INTC has over $15B of lifetime external deal value devoted to its foundry strategy, with five external customers committed to 18A.