Intel (INTC) To Invest $88B In Chip Manufacturing In Europe

<p>Intel (INTC) said it plans to invest $88 billion in chip manufacturing in Europe over the next decade as several domestic chipmakers are looking to diversify production away from Asia following geopolitical tensions and historic supply chain blockages. Matthew Bryson with Wedbush Securities discusses the firm's latest underperform rating on Intel with a $45 price target. Bryson says the company's manufacturing progress appears on track and that its gross and operating margin targets appear beatable.&nbsp;</p>