The recent news about Intel (INTC -1.55%) may be the beginning of a bright future.
Intel's CEO on Tuesday announced a significant expansion in Arizona by releasing two new fabrication factories. The new factories will manufacture chips for Intel, and they will also take orders from other companies. Intel will pursue customers like Apple and Qualcomm in the latest fabrication business.
Intel also provided a financial update and a full-year business outlook. It expects full-year 2021 non-GAAP revenue of $72 billion and non-GAAP EPS of $4.55.