Shares of Samsung Electronics rallied on Tuesday, joining its bigger rival TSMC , driven by growing expectations that the chipmakers may benefit from Intel Corp's plan to outsource more chip manufacturing.
Shares of Samsung Electronics rose as much as 5.8% at one point to their highest level in about five months and were on track to finish higher for a third consecutive session.
“Samsung could benefit as Intel will outsource more chip manufacturing,” Nomura analyst C.W. Chung said. Shares of Taiwan Semiconductor Manufacturing Co Ltd also extended gains on Tuesday, jumping 5% after hitting a record-high on Monday on Intel’s woes.
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TSMC jumps nearly 10% adding $34 billion in value as Intel faces next-generation chip delaysIntel said it could look for third-parties to manufacture some of its chips containing so-called 7-nanometer transistors. TSMC could be a beneficiary of that.
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Intel chief engineer Murthy Renduchintala is leaving - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
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Intel ousts its chief engineer, shakes up technical group after delaysIntel Corp's Chief Engineering Officer Murthy Renduchintala is departing, part of a move in which a key technology unit will be separated into five teams, the chipmaker said on Monday.
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Intel to reorganize key technology unitIntel Corp will reorganize its Technology, Systems Architecture and Client Group into five separate units, a move that will see Chief Engineering Officer Murthy Renduchintala depart, the chipmaker said on Monday.
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Intel engineering leader Murthy Renduchintala will leave as the company mulls manufacturing shiftRenduchintala joined Intel from Qualcomm in 2015 and was seen as a CEO candidate as Brian Krzanich resigned in 2018.
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