35 Chip Stocks In Focus Amid Tech Selloff

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8. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 68      

Intel Corporation (NASDAQ:INTC) markets key technologies for smart devices. In January, the company introduced the Adaptive Control Unit (ACU) designed for electric vehicle (EV) power trains and zonal controller applications. The ACU U310 is a new kind of processing unit that supports the consolidation of multiple real-time, safety-critical and cybersecurity functions, applications and domains (X-in-1) into a single chip. Later in the month, the company unveiled the new Intel Core Ultra (Series 2) processors, designed to revolutionize mobile computing for businesses, creators and enthusiast gamers. These latest additions to the Intel Core Ultra family feature cutting-edge AI enhancements, increased efficiency and performance improvements. In the earnings of the third quarter of 2024, the company reported revenue of $14.3 billion, decreasing by 7% year-over-year and full-year revenue was $53.1 billion, decreasing by 2% year-over-year.

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