Intel Says Prepared to Work With Third Point Hedge Fund on Business Focus

Third Point said Intel should consider outsourcing its manufacturing operations to keep pace with rivals.

Advertisement
By Agence France-Presse | Updated: 30 December 2020 09:54 IST
Highlights
  • Intel rose 4.9 percent to close at $49.39 (roughly Rs. 3,600)
  • Intel remains one of the world's leading chip companies
  • It has lagged behind rivals in the fast-growing segment of mobile devices
Intel Says Prepared to Work With Third Point Hedge Fund on Business Focus

The market action came after Intel acknowledged receiving a letter from Third Point

Intel's shares rose sharply Tuesday after the computer chip giant said it was prepared to work with a hedge fund on changes to its business to boost shareholder value.

The market action came after Intel acknowledged receiving a letter from Third Point, led by activist investor Daniel Loeb. Intel rose 4.9 percent to close at $49.39 (roughly Rs. 3,600).

"Intel Corporation welcomes input from all investors regarding enhanced shareholder value," the California tech giant said.

"In that spirit, we look forward to engaging with Third Point on their ideas towards that goal."

Advertisement

Third Point's letter said Intel should consider outsourcing its manufacturing operations to keep pace with rivals in the sector such as Taiwan-based TSMC and South Korean giant Samsung, among others.

"We suggest the board retain a reputable investment advisor to evaluate strategic alternatives, including whether Intel should remain an integrated device manufacturer and the potential divestment of certain failed acquisitions," the letter stated.

Advertisement

While Intel remains one of the world's leading chip companies, it has lagged behind rivals in the fast-growing segment of mobile devices, and its chips are being phased out by Apple, which is developing its own microprocessors for its Mac computers.


Is Mi QLED TV 4K the best affordable smart TV for enthusiasts? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

Affiliate links may be automatically generated - see our ethics statement for details.
 

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Intel, Third Point
Advertisement

Related Stories

Popular Mobile Brands
  1. Samsung Said to Unveil Tri-Fold Phone in July: Here's When It Might Debut
  2. iPhone 17 to Feature Slightly Larger Display Than iPhone 16, Tipster Says
  1. Infinix Hot 60i Launched With MediaTek Helio G81 Ultimate SoC, 50-Megapixel Rear Camera
  2. OpenAI Said to Turn to Google's AI Chips to Power ChatGPT and Other Products
  3. Samsung Tipped to Unveil Tri-Fold Smartphone With Galaxy Z Fold 7, Z Flip 7; Launch Timeline Leaked
  4. iPhone 17 to Feature Slightly Larger Display Than iPhone 16, Tipster Claims
  5. Microsoft's Next-Gen AI Chip Production Reportedly Delayed to 2026
  6. Dead NASA Satellite Relay 2 May Have Caused Mysterious 2024 Radio Burst
  7. James Webb Telescope Captures First Direct Image of Saturn-Mass Exoplanet
  8. James Webb Telescope Detects Methanol and Ethanol Near Young Stars, Hinting at Life’s Origins
  9. Rubin Observatory Captures Distant Nebulae From Chilean Mountaintop
  10. Apple to Expand Swift Language Support to Android; Sets Up Android Working Group
Gadgets 360 is available in
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2025. All rights reserved.