Intel on track for cumulative software sales of $1 billion by end 2027, exec says

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Go back to Intel on track for cumulative software sales of $1 billion by end 2027, exec says

Northland on Intel (INTC): 'Waiting for INTC’s Turn Around is Painful, But It Will Eventually Happen', 'Thesis Battered But Remains Intact'

July 16, 2024 6:47 AM EDT

Northland analyst Gus Richard reiterated an Outperform rating and $68.00 price target on Intel (NASDAQ: INTC).

The analyst comments "We are cutting our INTC estimates due to new export restriction to Huawei, server CPU share loss to AMD, and the expectation that PC demand will be weaker than expected in 2H:24. A weaker consumer globally and... More

Intel’s cumulative software sales could hit $1 billion by 2027 end, CTO says

July 12, 2024 7:42 AM EDT

Intel's (NASDAQ: INTC) software initiative is progressing well, with the company potentially reaching a cumulative software revenue of $1 billion by the end of 2027, the companys CTO Greg Lavender told Reuters.

In 2021, the year Lavender joined Intel from VMware under CEO Pat Gelsinger, Intel generated over $100 million in software revenue. Since then, the chipmaker has acquired three software companies.

"I have a goal of getting to $1 billion of software and developer... More