Why Shares of Intel Stock Rose Just 3.4% in 2021
While many semiconductor stocks surged along with the broader market in 2021, Intel (NASDAQ: INTC) was notably left behind. The chip giant's stock gained just 3.4% last year, according to data from S&P Global Market Intelligence, while the S&P 500 registered a 27% gain.
Intel has been struggling with manufacturing delays for years. The company finally acted in early 2021, luring Intel veteran Pat Gelsinger back from VMware to right the ship. Intel's squandered manufacturing lead led some to push for the company to spin off its manufacturing arm and focus on design.
Gelsinger took the exact opposite route. Intel is dramatically ramping up its capital spending, with plans to pour as much as $28 billion into its factories in 2022 alone. The company is aiming to win back its manufacturing edge while building out a world-class foundry business that makes chips for other companies.
Source Fool.com
