NVDA - Has Intel Found Its Bottom Again?

2024-07-02 14:27:29 ET

Summary

• Intel reported mediocre first quarter results for fiscal 2024.
• When looking at the new reporting structure, Intel Products - the core business of Intel - actually reported high growth rates.
• Management is holding on to its long-term vision of Intel Foundry generating high revenue and improving margins.
• And the stock is still deeply undervalued.

One of the more interesting stocks in my portfolio is Intel Corporation ( INTC ) right now. But we could call that also a nice way to frame what is true as well: an investment in Intel has been catastrophic in the last few months. In my last article about Intel – published in January 2024 – I was a bit cautious (in an overall rather bullish article) and wrote:

But while Intel could decline as well in the next few quarters, I see Intel trading for higher prices when using a time horizon of 5 to 10 years (compared to the stock market which is headed for a “lost decade”).

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