Sold EESO @ 40% gain! Bought some INTC calls for the long run.
INTC is going to spend $7B upgrading its factories and is going hire 7000 people.
NEW YORK, Feb 10 (Reuters) - Intel Corp (INTC.O) plans to invest $7 billion over the next two years to build advanced manufacturing facilities in the United States that make faster, smaller chips that consume less energy.
The announcement comes less than a month after the world's largest maker of microprocessors used in personal computers said it would close plants in Southeast Asia and scale back U.S. operations under a restructuring that affects as many as 6,000 employees.
The investment funds deployment of Intel's 32 nanometer manufacturing technology, the company said.
Intel's investment will be made at existing manufacturing sites in Oregon, Arizona and New Mexico and will support some 7,000 jobs at those locations. The company said its total workforce in the U.S. is about 45,000. (Reporting by Franklin Paul; Editing by Derek Caney)
