Intel could be even with TSMC in manufacturing by 2025, says Citi

After spending time with Intel (INTC) at the firm’s Singapore conference, Citi analyst Christopher Danely is more confident that the company has a good chance to catch up to TSMC (TSM) in manufacturing in the second half of 2025. Intel’s five nodes in four years strategy is more like three nodes in four years given Intel 7 is a rebranded 10nm and the similarities between Intel 4/Intel 3 and Intel 20A/18A, the analyst tells investors in a research note. The firm says Intel is spreading out manufacturing innovations at different nodes versus TSMC incorporating multiple technologies at 2nm, which it believes is causing TSMC to spend more time at the 3nm node. If Intel continues to execute, it could be even with TSMC in manufacturing by 2025, contends Citi. Nonetheless, the firm keeps a Neutral rating on Intel shares, saying it remains skeptical that foundry will ever work.