Uber Announces A New Update to Its Delivery Services and Intel Invests in Vietnam Manufacturing Facility
One of the hottest stocks to come out of Silicon Valley in the last decade was Uber, the app that transformed public transportation and made it more accessible. Despite being hit hard by the pandemic in March of 2020, the company has expanded its operation to include food and package delivery services, among others. In fact, On Thursday, Uber announced an update to their delivery services in New York, leading the stock to bounce over 7% during the day,
This innovation hasn’t all been done alone, in fact Uber has announced their collaboration with Nimble, an emerging prescription delivery service in the U.S. With this partnership, UberEATS will be able to provide New Yorkers’ prescriptions straight from their local pharmacies. And to further the convenience, customers will be able to access these services within the Uber app itself.
Intel has been trading sideways for a while but has seen recent gains, up 12% this month. This growth may be set to continue as the company’s latest investment shows potential in 2021. Specifically, Intel has invested $475 million into their Vietnam unit, this comes in addition to the $1 billion Intel has already invested into their state-of-the-art chip assembly facility in Saigon, Vietnam.
This investment isn’t just an increase in general supply of intel chips but could specifically accelerate the production of the highly coveted 5G technology. Intel seems to have the cash to back this as well, because as of last week Intel is clocking in with $19.98 billion in total revenue and $5.86 billion cash on hand.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.