This year, Intel's case isn't going well, and after her last quarterly report, which disappointed investors and, according to CEO Patrick Gelsinger, was "", the stock value fell by 10% immediately, and since the beginning of the year, their price fell by 41%, and while the stock is low, the company's head buys it.
According to a report sent to the Securities and Exchange Commission, Helsinger purchased 14,800 shares of Intel last Wednesday at an average price of $33.86 per unit for a total amount of $50,153. This was his third open-market purchase of Intel in 2022, which was the largest open-market purchase of Intel for Gelsinger since he took office in February 2021.
Under the leadership of Helsinger, the company invested heavily in expanding production capacity in the United States and Europe, but the decline in demand for PCs has had a negative impact on Intel and other chip producers. This is the reason for Intel's decline. But Helsinger is convinced that he is on the right track. Perhaps by buying shares, among other things, the head of the company is trying to inspire confidence in investors.
Last week, on Tuesday, Intel announced an agreement with Canada's Brookfield Associate Management to invest up to $30 billion in two modern chip factories in Arizona.