- Samsung Electronics Co Ltd (OTC:SSNLF) explores a second location in Texas for its $17 billion U.S. semiconductor plant, Bloomberg reports.
- It is eyeing a six million-square-foot site apart from a previously disclosed expansion of its Austin base.
- Samsung is likely to begin construction at the Williamson Country site around Q1 of 2022, with targeted production by the final three months of 2024.
- The company was in discussions to locate a facility in Austin, Texas, for fabricating chips as advanced as 3 nanometers. It will further intensify chip rivalry with Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM).
- It’s also evaluating alternative sites in Arizona, New York, and South Korea.
- Samsung plans to invest $151 billion through 2030 into its foundry and chip design businesses to compete with TSM by offering 3nm chips in 2022.
- Price action: TSM shares traded lower by 0.31% at $117.14 on the last check Friday.
Raymond James Maintains Outperform on Phillips 66, Lowers Price Target to $90
Raymond James analyst Justin Jenkins maintains Phillips 66 (NYSE:PSX) with a Outperform and lowers the price target from $101 to $90.
