New York, July 11 (FinanceEnquiry.com) – Analysts at Moody’s Investors Service said Intel’s (NASDAQ: INTC) Investment in ASML Holding NV (NASDAQ: ASML) is credit positive.
In a research note published yesterday, the analysts mention that Intel Corporation (NASDAQ: INTC) and ASML Holding NV (NASDAQ: INTC) has announced plans for INTC to invest $3.1 billion for a 15 percent of equity stake in ASML and an additional $1 billion for more than $1 billion to help ASML fund research and development for next generation 450 mm water and extreme ultra violet lithography tools.
The announcement is credit positive as it helps to ensure manufacturing technology leadership and allows INTC to use its significant overseas cash. The agreement indicates the rising capital intensity at leading edge semiconductor manufacturing and semiconductor equipment companies’ reluctance to fund all of the R&D requirements for 450 mm water development. INTC has its head quarters in Santa Clara, California, which is the world’s largest semiconductor with around $54 billion of revenue for twelve months to be ended March 2012.
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