Intel s comeback story is even wilder than it seems
The story
Intel's stock has risen a stunning 490% over the past year, a bet by Wall Street that may be running well ahead of the company's actual turnaround.
From the source
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Bloomberg has a deep dive this week into how Intel CEO Lip-Bu Tan is trying to rescue one of Silicon Valley s most storied, and stumbling, chipmakers. It s worth a read, but it actually undersells the most jaw-dropping part of the story: Intel s stock has risen a stunning 490% over the past year, a bet by Wall Street that may be running well ahead of the company s actual turnaround.
Tan, who took over in March of last year , has spent much of his first year schmoozing rather than restructuring — locking in a sweetheart deal with the U.S. government (now Intel s third-largest shareholder), cozying up to Elon Musk on a factory partnership , and reportedly landing preliminary manufacturing agreements with both Apple and Tesla.
Who and what
Key names and topics in this story: Intel.
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