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Intel Leaves Wall Street Unimpressed With Amazon Deal – JPMorgan, BofA Remain Skeptical Of Foundry Spinoff & AWS AI Chip

NewsTech

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Intel's blockbuster announcement of a partnership with Amazon yesterday that set its shares soaring by 8% in aftermarket has left Wall Street unimpressed as major investment banks believe any new benefits from the deal are well out in the future. Intel announced a multi billion dollar partnership with Amazon yesterday without delving into the specifics, and JPMorgan, Bank of America and Evercore all note that while the firm's latest decision to spin out Intel Foundry Services as a subsidiary is good for transparency, any revenue from its advanced 18A manufacturing process is well out in the future. JPMorgan, Evercore & […]

Read full article at https://wccftech.com/intel-leaves-wall-street-unimpressed-with-amazon-deal-jpmorgan-bofa-remain-skeptical/

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