- Bloomberg reports that Intel Corp (NASDAQ:INTC) blew 140 billion dongs ($6.1 million) in just a month to meet the strict Vietnamese pandemic mandates for factories in Ho Chi Minh City.
- The costs include sleeping accommodations for workers, hotel rooms, and daily virus tests for workers, both its employees and suppliers.
- The costs have taken a toll on Intel's budget and will likely hamper its production.
- Intel has sought permission to allow fit employees who live in the safe zones of the city to commute to work via company transportation. It also requested for the second vaccine dose to its Ho Chi Minh City employees.
- Vietnam reported 308,559 local virus cases since late April, of which 53.3% of cases came from Ho Chi Minh City.
- The semiconductor chip crisis has compelled multiple analysts to lower their price target on Intel despite the Q2 beat and Q3 guidance raise.
- The chipmaker already had to defer its new chip production plans.
- Price Action: INTC shares closed lower by 0.82% at $52.01 on Friday.
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