1510 ET - Intel may have more room to cut capital and operating expenses, according to Bank of America's Vivek Arya. Intel said in April that it would reduce its gross capital spending target by $2 billion this year to $18 billion. "However, we see potential for CEO Tan to further revise opex/capex down by 10-15%, opex toward $16bn vs. current $17bn, and capex toward $14-15bn vs. $18bn," Arya writes ahead of the company's earnings report. "While these measures could bring semblance of profit in the near-term," Arya notes concerns including "constant roadmap changes" and employee churn. Arya expects Intel's 2Q results to benefit from tariff pull-ins and a more favorable mix, but the chip company may face a tougher 2H as benefits reverse. (josh.beckerman@wsj.com)

(END) Dow Jones Newswires

July 24, 2025 15:10 ET (19:10 GMT)

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