Investors may be using Intel as a hedge if the chip war between the U.S and China spins out of control.
Intel on Thursday was the one major U.S. chip maker rallying in a sea of red for the semiconductor sector. There is a good reason for the outperformance.
Semiconductor investors are becoming increasingly concerned about the escalating tensions between the U.S. and China after reports that Beijing has started banning the use of Apple iPhones for government work. Since joining Intel two years ago, Intel CEO Pat Gelsinger has implemented an aggressive turnaround strategy, betting on the expansion of the company’s foundry business. Earlier this year, Intel executive Mark Gardner said the company’s foundry services offered a compelling proposition for its customers, citing its more geographically secure supply chain and an array of advanced chip packaging services.
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