Shulou(Shulou.com)11/24 Report--

CTOnews.com, Sept. 4 (Xinhua)-- although Intel executives are optimistic about their future roadmap and manufacturing capabilities of advanced technology, investors don't seem to think so.

Analysts at Goldman Sachs believe that Intel may further increase the proportion of TSMC contract products in the future.

According to Goldman Sachs analysis obtained by Commercial Times, Intel's outsourcing orders in 2024 and 2025 are expected to reach $18.6 billion (currently about 135.222 billion yuan) and $19.4 billion (currently about 141.038 billion yuan), which may mean that Intel will outsource all its products at that time, but it is almost impossible for Intel to outsource all its products, according to Goldman Sachs analysis obtained by Commercial Times.

Under more realistic developments, TSMC could receive orders from Intel of $5.6 billion (CTOnews.com Note: about 40.712 billion yuan) and $9.7 billion (currently about 70.519 billion yuan) from 2024 to 2025, according to Goldman Sachs.

In fact, since the second half of 2023, almost all of Intel's high-selling products have relied on small chip designs, some of which are made by Intel and others based on TSMC. But because Intel sells a complete product, it can still get a high profit margin.

In the case of TSMC, if Goldman's data are accurate enough, Intel will account for about 6.4% and 9.4% of TSMC's total revenue each year, basically second only to apple (about 23% last year). This is in line with industry expectations.

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