Bloomberg Intelligence Instant Reaction: Intel Gives Encouraging Forecast After PC Market Rebounds
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Oct 23, 2025 Jay Goldberg, a senior analyst at Seaport Research Partners, shares insights on Intel's recent upbeat revenue forecast spurred by a rebound in PC demand. He explains how new 18A manufacturing techniques and collaborations with TSMC have boosted Intel's performance. Other fascinating topics include the challenges of Intel's foundry strategy, the impact of U.S. government investments, and the cultural changes under CEO Pat Gelsinger. Goldberg poses a critical question about the future of Intel Foundry, sparking a thoughtful discussion on pivoting to competitiveness.
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New Products And Margins Signal Progress
- Intel's quarter improved due to new products ramping on the 18A process and help from TSMC.
- Jay Goldberg says rising gross margins signal improving manufacturing execution.
Fab Decision Is The Big Strategic Risk
- Intel faces a critical strategic choice about whether to keep advanced fabs if no external foundry customers appear.
- Goldberg warns stopping advanced manufacturing would boost near-term profits but harm the company's long-term prospects.
Culture Change Is Central To Turnaround
- Internal culture, not just external competition, remains Intel's biggest challenge.
- Goldberg credits CEO Pat Gelsinger's plan but says changing mindset is essential for recovery.