Press release
Intel's $10 Billion Cost Reduction Plan Drops Semiconductor Equipment Growth To -6.1% In 2024 Says The Information Network
Total WFE Revenue YoY % Change
"Intel revealed its capex budget would be cut by 20% in 2024 to $21 billion in 2024. Its capital expenditure in 2023 increased to $26 billion as it made significant investments in the development of advanced process nodes such as Intel 3 and Intel 4. This followed a 2022 capex spend of $25 billion, as Intel solidified its position in the global foundry market," reported Dr. Robert Castellano, President of The Information Network.
"With Intel's announcement, WFE growth expected to be -6.1% in 2024," added Dr. Castellano. "Intel's new financial guidance dropped the WFE market an additional 5%."
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CONTACT: Dr. Robert N. Castellano, 610/737-7596
INDUSTRY KEYWORD: semiconductor
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Robert Castellano
Started in 1985, The Information Network is a leading Market Research company focusing on the High-Tech industry
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