Intel: A Rocky Road to Recovery

Intel has reported its Q4 earnings, highlighting a more challenging recovery path than anticipated. Despite the stabilization of corporate management in 2025 and the relatively good results achieved in the fourth quarter, the company anticipates supply constraints in Q1 2026.

Losses from the Intel Foundry division continue, although 18A production is ramping up. The company expects supply issues to ease only in the second quarter of 2026. Total annual revenue is the lowest since 2010, signaling a complex transition phase for the semiconductor giant.

General Context

The semiconductor industry is cyclical and influenced by global macroeconomic factors, market demand, and technological advancements. Companies like Intel must constantly innovate and adapt to remain competitive. The ability to manage the supply chain and invest in new production technologies is critical for long-term success.