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Intel CEO Met with TSMC to Discuss Co-op; CFO Slams US Trade Policy Swings for Denting Sales
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When asked at Intel (INTC.US)'s results conference on Thursday (24th, local time) whether the company would reconsider its IDM model, CEO Lip-Bu Tan, who took office in March this year, answered that Intel regards TSMC (TSM.US) as a partner and has always had a good partnership with it, Nikkei Asia reported. He also revealed that he had previously met with TSMC to discuss ways to collaborate on a win-win basis. Intel's net profit for 1Q sank by 24% to US$580 million. At the results call, Tan noted that the quarterly results show that the company is moving in the right direction, yet there is no quick fix. Although Intel is working hard to regain market share and push forward sustainable growth, it expects that US tariff policies and global trade uncertainties will pose additional obstacles to its sales. In Intel's estimate, its 2Q revenue will range from US$11.2 billion to US$12.4 billion. CFO David Zinsner explained that the forecast range is wider than usual due to uncertainties from tariffs and a potential recession. He added that the unpredictable US trade policies and regulatory risks have lifted the chances of an economic slowdown, while the probability of a recession is escalating, making it difficult for Intel to predict its operating performance for 2Q and beyond. AAStocks Financial News |
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