Intel's CEO Just Affirmed That Chipzilla's Recovery Is On Track
Semiconductor giant Intel (NASDAQ: INTC) has suffered some rare miscues in recent years. The company's traditional lead in manufacturing technology turned into an uphill battle in 2017 when the 10-nanometer (nm) production process was delayed by a full generation cycle of two years. Intel's stock has barely moved in the last four years, gaining just 9% while the S&P 500 (SNPINDEX: ^GSPC) market index posted a 70% increase.
At the Credit Suisse Technology, Media, and Telecom Conference this week, CEO Pat Gelsinger took the stage to concede that his company has struggled but also to make it clear that Intel is on track to recover and thrive.
Gelsinger took Intel's CEO office in February this year, topping off a long career at the company where he was the chief architect of the 486 processor in 1989. He quickly pledged to rejuvenate Intel's company culture and get the manufacturing technology back on track to compete with current market leaders Taiwan Semiconductor Manufacturing and Samsung.
Source Fool.com
