https://staging.qna.cloud/intel/en-USTelligent Community 13 Non-Productionhttps://staging.qna.cloud/intel/f/meeting-room/157434/intel-reports-second-quarter-2026-financial-results-sample-for-bloomberg-newsFri, 24 Jul 2026 21:15:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:adc4ac22-1bdc-4855-a374-9e66acca93b6Jason LehmanSANTA CLARA, Calif.--(BUSINESS WIRE)-- Intel Corporation today reported second-quarter 2026 financial results. “AI is driving unprecedented demand for compute, and as we continue to execute, Intel is well-positioned to capture sustainable growth across our CPU franchise, ASICs, advanced packaging and vast wafer foundry network,” said Lip-Bu Tan, Intel CEO. “Our Q2 results represent our strongest revenue growth in more than fifteen years, enabled by greater speed, accountability, and customer focus.” “We delivered a strong second quarter, exceeding our financial guidance on robust demand and improved execution, including volume upside driven by higher factory yields and improved cycle times,” said Dave Zinsner, Intel CFO. “AI-driven compute continues to strengthen, and to support expected growth this year and next across products and foundry, we are meaningfully increasing our investments in equipment, clean room space, and substrates.”https://staging.qna.cloud/intel/f/meeting-room/157433/18a-and-path-to-60-gross-margin-targets-sample-for-bloomberg-newsFri, 24 Jul 2026 20:35:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:af0e3a16-7df8-4a59-96f9-e32165cf9617Bruce BannerWith 18A entering high-volume manufacturing, how dependent is your path back to a 60% gross-margin target on winning external foundry customers versus internal product volume? And what milestones should we watch over the next few quarters?https://staging.qna.cloud/intel/f/meeting-room/157430/currency-moves-2-sample-for-bloomberg-newsThu, 23 Jul 2026 09:39:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:8c1eb35c-030c-4ae0-b908-8921538f230eBruce BannerHow are you offsetting current currency moves?https://staging.qna.cloud/intel/f/meeting-room/157417/production-supply-issues-or-demand-issues-sample-for-bloomberg-news/156360Wed, 15 Jul 2026 07:21:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:1eaeb205-a1e2-4c83-a22c-a4a4f02d3992Jason LehmanIn terms of production and supply issue, we were hit by – yes, more or less 100,000 cars. In October, we will see another hit of about 50,000. But then for the time being then that whole topic should be then really be fixed, thanks to the really great efforts of our team. They enlarged capacity worldwide and a lot of other suppliers showed high flexibility. If you look at our order bank, our order bank is still 1.4 million cars in Europe alone. Yes, the order bank went down 150,000, but we have a very strong order bank in Western Europe. And if you look at our figures we achieved so far, it’s really that we plan for a rather robust fourth quarter in order to meet our ambitious targets where we guided for €25 billion, 25 – €22.5 billion reported. And basically, then €25 billion operating result before our commodity hedges. And for that, we need and we plan for a rather strong fourth quarter. I would say we have a tailwind from new model launches, and based on the 1.4 million order bank, we see and we expect a solid fourth quarter.https://staging.qna.cloud/intel/f/meeting-room/157416/high-na-memory-adoption-over-the-next-three-years-sample-for-bloomberg-news/156359Wed, 15 Jul 2026 07:21:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:c09a0456-93d6-4b67-92bd-a6264cdbca17Jason LehmanThe revenue for this year, as you know at the Capital Markets Day, we expect 5 systems in revenue and that's still the way we look at it. There will be more shipments but it's a bit too early to say how exactly is the revenue recognition going to work. But the 5% in revenue, that's still the way we look at it. In terms of the introduction of high NA into memory, we do see the time frame of memory and logic adoption more or less in sync. So to us, that is more or less the same timeframe.https://staging.qna.cloud/intel/f/meeting-room/157415/q4-drop-through-sample-for-bloomberg-news/156358Wed, 15 Jul 2026 07:21:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:095d621a-9fdc-4818-aa2c-381677c23397Jason LehmanSo in terms of Q4 drop-through, clearly, we'd expect it to be better than Q3 drop-through. And so for a full year, we're probably looking more around about sort of the 50 mark for full year drop-through.https://staging.qna.cloud/intel/f/meeting-room/157414/profit-bridge-sample-for-bloomberg-news/156357Wed, 15 Jul 2026 07:20:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:6362f837-3668-4bf0-984d-8acbb83966f0Jason LehmanWe are expecting to see a benefit from mix of about 30 basis points as we move through year end. Another 30 basis point improvement in operating margin coming from the next phase of performance excellence savings, and we’re going to sort of increase our investment in R&D through this year, which will be a 30 basis points headwind, and then 20 basis points from operating leverage, so net-net that comes back to about 50 basis points of margin expansion as we go through 2024. And of course, we expect to see revenue growth, as we’ve outlined, around mid-single digit, which will drive the overall absolute profit improvement.https://staging.qna.cloud/intel/f/meeting-room/157413/leverage-free-cash-performance-and-capex-spend-for-remainder-of-this-year-and-beyond-sample-for-bloomberg-news/156356Wed, 15 Jul 2026 07:20:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:0ec5c503-bb41-483a-a8e4-bca4ee3c64d7Jason LehmanWe would expect it to come down from where we are at 1.9. Just seasonally, it tends to come down in April. And then as we look forward, we're certainly based as you -- given the delta on CapEx that we're talking about for next year at this stage, that would lead to significant free cash flow generation next year, which will be -- we'll work out how we deploy that, whether clearly, it's still a return to shareholders in terms of dividends, et cetera. We'll obviously be looking at the bolt-on landscape, but it would also expect that to reduce leverage through that period as well given our preference for sort of bottom half or lower half of our range of 1.5 to 2.https://staging.qna.cloud/intel/f/meeting-room/157419/m-a-targets-sample-for-bloomberg-newsWed, 15 Jul 2026 07:18:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:28723a96-6620-460f-8bd1-09c97c0f40acBruce BannerRegarding M&A, do you have specific product categories in focus here, or are you looking across the whole portfolio?https://staging.qna.cloud/intel/f/meeting-room/157418/currency-moves-sample-for-bloomberg-newsWed, 15 Jul 2026 07:18:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:5ea7adb7-f63d-4326-8136-04b523f656acBruce BannerHow are you offsetting current currency moves?https://staging.qna.cloud/intel/f/meeting-room/157417/production-supply-issues-or-demand-issues-sample-for-bloomberg-newsWed, 15 Jul 2026 07:17:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:d200a454-a63e-44e3-8c02-01c07cb7405cBruce BannerOn the production side, you had that 100,000 loss production because of the supplier issue. But at the same time, you’re saying order intake is below your ambitious targets. So isn’t it in the end more of a demand issue that the problem and it’s not a good idea to catch up with that loss production in the coming quarters because the inventory is already quite high in the channels?https://staging.qna.cloud/intel/f/meeting-room/157416/high-na-memory-adoption-over-the-next-three-years-sample-for-bloomberg-newsWed, 15 Jul 2026 07:16:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:0c5c76ea-9956-49ef-937f-7c7ae55290e3Bruce BannerA question on High-NA. Can you update us on your planned shipments and revenue for calendar '25 and how you expect to kind of shrink that time frame between shipping and revenuing? And as part of that number, how should we think about the overlay of memory adoption into the next three years?https://staging.qna.cloud/intel/f/meeting-room/157415/q4-drop-through-sample-for-bloomberg-newsWed, 15 Jul 2026 07:16:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:ff1082fe-5467-46af-826a-63a7e682e88bBruce BannerOn the drop-through you expect in Q4. I think when we spoke in December, you had expected that to improve again in the Q4 sort of similar to Q2 levels based on what you've seen through Q3 and also into February, is that still the case?https://staging.qna.cloud/intel/f/meeting-room/157414/profit-bridge-sample-for-bloomberg-newsWed, 15 Jul 2026 07:15:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:7cb0df9f-5b0a-4d92-b168-c90a42ba0f0bBruce BannerIn terms of the profit bridge, you've previously explained that transition in 2026, but how do we think of that sort of profit bridge in 2027? Can you talk about a little bit about what we can expect from areas such as mix operating on leverage?https://staging.qna.cloud/intel/f/meeting-room/157413/leverage-free-cash-performance-and-capex-spend-for-remainder-of-this-year-and-beyond-sample-for-bloomberg-newsWed, 15 Jul 2026 07:14:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:4be29da4-e45b-4469-b22a-e0c124cdcfabBruce BannerYour leverage, while being obviously within your target range, is at the higher end of that range. Where do you expect that to land for the full year? And sort of a related point, you've talked about free cash flow being strong for next year. I'm assuming that's an improvement on the 150 you're doing for this year. But given the lower CapEx spend, is there any sort of color or range you can give on that free cash performance to expect for next yearhttps://staging.qna.cloud/intel/f/meeting-room/157412/optionality-and-m-a-deals-sample-for-bloomberg-news/156355Wed, 15 Jul 2026 07:05:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:b8e16358-627a-4c7c-81a4-e77460f322bfJason LehmanNet debt to EBITDA is bang in the middle of our target range. I think as we look forward, that gives us optionality now in terms of how we think about enhancing in the best way total shareholder returns from here. Alongside all of the operational improvements that we’ve been making over the last couple of years, we have been refreshing our sort of M&A playbook and things that we would like to have within the portfolio that will accelerate our organic growth strategy. So, we are now more focused on that. I would hope that we can deploy capital in some bolt-on acquisitions over the next couple of yearshttps://staging.qna.cloud/intel/f/meeting-room/157412/optionality-and-m-a-deals-sample-for-bloomberg-newsWed, 15 Jul 2026 05:17:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:24113ce5-5b91-4a1e-9839-987d6e802624Bruce BannerNet debt to EBITDA is down at sort of 1.1 times. Obviously, it does give you a lot of optionality. As you go through the rest of this year, the scope for M&A sort of bolt-on M&A has that increased? Do you think there’s more chance of deals next year?https://staging.qna.cloud/intel/f/meeting-room/157408/leverage-free-cash-performance-and-capex-spend-for-remainder-of-2026-and-beyondThu, 09 Jul 2026 15:52:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:cbba3dc1-108c-4f27-a76c-458c8c652f86Bruce BannerYour leverage, while being obviously within your target range, is at the higher end of that range. Where do you expect that to land for the full year? And sort of a related point, you've talked about free cash flow being strong for next year. I'm assuming that's an improvement on the 150 you're doing for this year. But given the lower CapEx spend, is there any sort of color or range you can give on that free cash performance to expect for next year?https://staging.qna.cloud/intel/f/meeting-room/157407/optionality-and-m-a-dealsThu, 09 Jul 2026 15:28:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:c563e5b0-e3f7-4845-9717-50e524a48276Bruce BannerNet debt to EBITDA is down at sort of 1.1 times. Obviously, it does give you a lot of optionality. As you go through 2026, the scope for M&A sort of bolt-on M&A has that increased? Do you think there’s more chance of deals in 2026?https://staging.qna.cloud/intel/Tue, 09 Jun 2026 07:20:00 GMTe79f1d60-8cfe-4c2e-afad-d728c83c0cd3:e2da3f1a-695d-4c5d-af9f-8544e795a4fb