Benzinga | Nov 30, 2021 05:01PM EST

Intel CEO Expresses Conviction Over Accomplishing 5-Year Goals At Credit Suisse Conference

Intel Corp (NASDAQ:INTC) CEO Patrick Gelsinger reiterated that "Intel 7, Intel 4, Intel 3, Intel 20A and Intel 18A [are] on or ahead of schedule" at the Credit Suisse Technology, Media and Telecom conference. Intel had acknowledged the same during its Q3 earnings call.

* Intel admitted the possession of a unique set of assets with a strategy building on those assets.

* Gelsinger aims to increase the value of this company dramatically.

* Gelsinger admitted the requisite investment while remaining a pretty clear-minded view of the strategy and execution to get there.

* Gelsinger expressed conviction over the accomplishment of its 5-year guidance disclosed during the earnings call.

* Intel sees its revenue growth accelerate to 10% - 12% CAGR over four to five years.

* Intel sees 51% - 53% gross margins over the next two to three years before moving upward.

* Intel expects revenue of at least $74 billion in 2022 and CAPEX of $25 billion - $28 billion with potential for further growth in subsequent years.

* Price Action: INTC shares traded lower by 1.44% at $49.28 on the last check Tuesday.