Intel to start hiking prices on customers due to rising costs: report (NASDAQ:INTC) – Seeking Alpha

Justin Sullivan

Intel (NASDAQ:INTC) has informed some of its customers that it will start raising prices on its chips as a result of rising cost pressures, Nikkei Asia reported.

The news outlet added that the price increases could happen as soon as the fall and could range from single-digit increases to as much as 20% in certain cases. Nothing has been finalized yet, Nikkei pointed out.

On the company’s first-quarter earnings call, Intel (INTC) CFO David Zinsner said the company was looking for “targeted price increases in certain segments.”

Santa Clara, California-based Intel (INTC) did not immediately respond to a request for comment from Seeking Alpha.

Intel (INTC) shares fell slightly more than 1% to $36.77 in early trading on Thursday.

News of Intel (INTC) raising prices come nearly two months after Intel competitor Taiwan Semiconductor (TSM) reportedly said it would start hiking prices, starting in 2023.

On Thursday, Taiwan Semiconductor (TSM) reported strong second-quarter results and issued strong guidance, but also noted that inflation had become an issue.

Intel (INTC) declared its quarterly dividend of 36.5 cents per share on Thursday, payable on Sept. 1, 2022 to stockholders of record on Aug. 7, 2022.

Source: https://seekingalpha.com/news/3856879-intel-to-start-hiking-prices-on-customers-due-to-rising-costs-report?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain

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